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WAEC Financial Accounting 1996 Question 3

Question 3

Books of Original Entry

A sales journal is used to record

  1. A.Sales expenses
  2. B.Cash sales
  3. C.Credit sales
  4. D.Sales return
  5. E.Sales commission
Show the answer and explanation

Answer: C (Credit sales)

Explanation

The sales journal (sales day book) lists credit sales only; cash sales go straight into the cash book.