BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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cash receipts
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purchase journal
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cash disbursements
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sales journal
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Detailed explanation-1: -A cash disbursement journal is a record of a company’s internal accounts that itemizes all financial expenditures made with cash or cash equivalents. A cash disbursement journal is done before payments are posted to the general ledger and is used in creating a general ledger.
Detailed explanation-2: -Examples of special journals are the cash receipts journal, cash disbursements journal, payroll journal, purchases journal, and sales journal.
Detailed explanation-3: -Cash Disbursement Journal is a special journal used to record all payments of cash, also called Cash Payment Journal.
Detailed explanation-4: -4 Check Disbursements Journal 7 This special journal is used to record the disbursements through checks made by the Disbursing Officer in the Accounting Division/Unit. It shall be maintained by fund cluster.
Detailed explanation-5: -Purchasing inventory or office supplies, paying out dividends, or making business loan payments with cash or cash equivalents are examples of disbursements.