BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The sales journal lists all credit sales made to customers. Sales returns and cash sales are not recorded in this journal. Entries in the sales journal typically include the date, invoice number, customer name, and amount. Invoices are the source documents that provide this information.

Detailed explanation-2: -If it is a credit sale (also known as a sale on account), it is recorded in the sales journal. If it is a credit purchase (also known as a purchase on account), it is recorded in the purchases journal.

Detailed explanation-3: -Answer and Explanation: The first journal entry would be to record the sale of merchandise on account at sales price. This results in an increase to the asset account called accounts receivable and an increase to the revenue account sales. The second journal entry is to record the cost of the merchandise sold.

Detailed explanation-4: -Special journals are designed as a simple way to record the most frequently occurring transactions. There are four types of Special Journals that are frequently used by merchandising businesses: Sales journals, Cash receipts journals, Purchases journals, and Cash payments journals.

Detailed explanation-5: -Sales Journal. Sales journal is a special journal used to record sales on credit (receivable from customer)