SACE Stage 2 Accounting Practice Exam

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Question: 1 / 400

Which journal is used to record the credit sale of stock to customers?

Cash Payment Journal

Sale Journal

The sale journal is specifically designed to record credit sales of stock to customers. When a business sells goods on credit, it means that the payment is not received immediately; instead, the customer agrees to pay later. The sale journal captures these transactions efficiently and separately from cash sales, allowing for accurate tracking of accounts receivable and sales revenue.

In contrast, the cash payment journal is used for recording cash disbursements or payments made by the business, the purchase journal is meant for tracking purchases made on credit, and the general journal records transactions that do not fit into specialized journals, such as adjustments or unique entries. Hence, the sale journal is distinctively suited for documenting credit sales, making it the correct choice for this situation.

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Purchase Journal

General Journal

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