. When furniture is sold for cash the entry should be made in
A: Sales book
B: Cashbook
C: Journal
D: Petty cash book
Best Answer
Explanation:
- Sales book records only those transactions that are on credit.
- The cash book records the transactions that involve the inflow or outflow of cash.
- The entry that is not recorded in any other book, is recorded in the journal.
- Petty cash book records daily expense transactions that are of a very small amount.
Final answer:
Hence, the correct answer is option B: Cashbook.
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