A-LevelAccountingThe accounting cycle9706/12 · Oct/Nov 2018 · Q51 Mark

A business sells a non-current asset for cash. The disposal account includes entries for the cost of the asset and the sales proceeds. Which books of prime entry are used?

Acost: cash book, sales proceeds: general journal

Bcost: cash book, sales proceeds: sales journal

Ccost: general journal, sales proceeds: cash book

Dcost: purchases journal, sales proceeds: cash book

✓ Correct answer

C: cost: general journal, sales proceeds: cash book

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Topic: The accounting cycle, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, Oct/Nov 2018 Paper 1 Variant 2, question 5.

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