In this session, you will learn to record all credit purchases, credit sales, cash payments, cash receipts and other adjustments in the respective journals. When business grows, a single journal and ledger will not be able to handle the huge volume of transactions. The solution to this problem is to split the journal into specific areas like purchase, sales, cash payment and receipts and others.
Original Description:
Original Title
Elements of Economics Topic 4 the Special Journals
In this session, you will learn to record all credit purchases, credit sales, cash payments, cash receipts and other adjustments in the respective journals. When business grows, a single journal and ledger will not be able to handle the huge volume of transactions. The solution to this problem is to split the journal into specific areas like purchase, sales, cash payment and receipts and others.
In this session, you will learn to record all credit purchases, credit sales, cash payments, cash receipts and other adjustments in the respective journals. When business grows, a single journal and ledger will not be able to handle the huge volume of transactions. The solution to this problem is to split the journal into specific areas like purchase, sales, cash payment and receipts and others.