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Posting from Special Journals a. When are purchases transactions posted to the accounts
Chapter 17, Problem 4(choose chapter or problem)
Posting from Special Journals
a. When are purchases transactions posted to the accounts payable subsidiary ledger? Why?
b. When are cash payments transactions posted to the accounts payable subsidiary ledger? Why?
Questions & Answers
QUESTION:
Posting from Special Journals
a. When are purchases transactions posted to the accounts payable subsidiary ledger? Why?
b. When are cash payments transactions posted to the accounts payable subsidiary ledger? Why?
ANSWER:Step 1 of 3
Special journals are the specific purpose journals that are prepared to list the specialized transaction separately. Example of these journals are – sales journal, purchase journal, cash receipt journal, cash payment journal, etc.