Answers only 62. An old car owned by the businesswas sold for cash. This is recorded inthe *A. Cash Receipts JournalB. Cash Payments JournalC. General JournalD. Sales Journal63. A special journal containedcolumns for cash, purchasesdiscounts, and accounts payable. Thisjournal is *A. Cash receipts journalB. General journalO C. Purchases journalD. Cash disbursement journal

Answered: 62. An old car owned by the business…

Business

Accounting

62. An old car owned by the business was sold for cash. This is recorded in the * A. Cash Receipts Journal

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 25MC: You just posted a credit to Sales and a debit to Cash. Which special journal did it come from? A....

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Concept explainers

Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.

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Answers only

62. An old car owned by the business
was sold for cash. This is recorded in
the *
A. Cash Receipts Journal
B. Cash Payments Journal
C. General Journal
D. Sales Journal
63. A special journal contained
columns for cash, purchases
discounts, and accounts payable. This
journal is *
A. Cash receipts journal
B. General journal
O C. Purchases journal
D. Cash disbursement journal

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