O-LevelAccountingAccounting procedures7707/11 · May/June 2011 · Q71 Mark
Hassan maintains a sales journal, purchases journal, sales returns journal and a purchases returns journal. At the end of his first month's trading, Hassan transfers the total of each of these journals to the general ledger. Which entries will Hassan make in his general ledger to record these totals?
Aaccount to be debited: purchases returns, sales; account to be credited: purchases, sales returns
Baccount to be debited: purchases returns, sales returns; account to be credited: purchases, sales
Caccount to be debited: purchases, sales; account to be credited: purchases returns, sales returns
Daccount to be debited: purchases, sales returns; account to be credited: purchases returns, sales
✓ Correct answer
D: account to be debited: purchases, sales returns; account to be credited: purchases returns, sales
Practise more questions on this topic
Oracle Prep sorts past-paper questions by topic, so you can drill Accounting procedures and see which topics are most likely to come up next.
Sign up free →