Journals

Question 1

What is the CRJ for?

Answer 1

The CRJ is used to record any money that the business receives.

Question 2

What kinds of cash journals are there?

Answer 2

Cash Receipts Journal

Cash Payment Journal

Question 3

What is the CPJ used for?

Answer 3

The CPJ is used to record any payments that the business makes.

Question 4

What is the DJ used for?

Answer 4

It used to record credit sales.

Question 5

What is the CJ used for?

Answer 5

It is used to record credit purchases.

Question 6

What is the PCJ used for?

Answer 6

It is used to record purchases for small amounts of cash.

Question 7

What is the DAJ used for?

Answer 7

It is used to record the returns to the business from customers.

Question 8

What is the CAJ used for?

Answer 8

The CAJ is used to record returns by the business to its suppliers.

Question 9

What is the GJ used for?

Answer 9

It used to record any ‘extra’ transactions and to correct any mistakes made to any of the other journals.

Question 12

What kinds of subsidiary journals are there?

Answer 12

Debtors Journal
Creditors Journal
Petty Cash Journal
Debtors Allowance Journal
Creditors Allowance Journal
General Journal