Special Journal: Fill In the Blanks

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Written by True Tamplin, BSc, CEPF®

Reviewed by Subject Matter Experts

Updated on March 12, 2023

Question No. 1
The purchase of merchandise on account appears in the .
Question No. 2
The journal used to record sales of merchandise on account is known as the .
Question No. 2
The journal used to record sales of merchandise on account is known as the .
Question No. 3
A document used by a buyer to show a decrease in the amount previously recorded owing to seller is referred to as a .
Question No. 4
The total of the sales journal is posted as a to accounts receivable and a to the sales account.
Question No. 5
The only column in the purchase journal that will not be posted in total is the column.
Question No. 6
Accounts receivable and accounts payable in the general ledger are classified as .
Question No. 7
Merchandise returned by customers are recorded in the .
Question No. 8
The total of sales returns and allowances is posted as a to accounts receivable.
Question No. 9
Any transaction that cannot be recorded in a special journal is recorded in the .
Question No. 10
Credit sales are recorded in the .

Special Journal: Fill In the Blanks FAQs

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About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.