Name three books of first entry which deal with credit transactions?
Monday, April 24, 2023
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Question: Name three books of first entry which deal with credit transactions?
The three books of first entry that deal with credit transactions are:
Sales Journal: This book records credit sales transactions, including the date of the sale, the customer's name, the amount of the sale, and any applicable taxes or discounts.
Purchases Journal: This book records credit purchases transactions, including the date of the purchase, the supplier's name, the amount of the purchase, and any applicable taxes or discounts.
General Journal: This book records all other credit transactions that are not recorded in the sales or purchases journals, including adjusting entries, accruals, and other non-routine transactions.
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