Accounting for IGCSE & O level - Accounting Procedures (Section 18 - No. 4)
What is the role of the purchases journal in the accounting system?
To record all cash receipts from sales.
To record credit purchases of goods or services.
To record all cash payments to suppliers.
To record sales returns made by customers.
Explanation
The purchases journal is specifically designed to record credit purchases (purchases on account).
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