Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 23 - No. 29)
Which of the following are features of a purchases journal?
It is used to record the total amount of cash paid.
The date of the invoice is recorded.
It records purchases for the purpose of selling them to customers.
It is used to record the returns made to the suppliers.
Explanation
A purchases journal is used to record the invoice date and record items for selling purposes. The cash amounts are recorded in the Cash Book, while the purchases returns are recorded in the Purchases Returns Journal.
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