Which of the following is entered in the general journal?
-
A.
purchase of goods -
B.
sale of goods on credit -
C.
returns inward -
D.
aquisition of fixed assets
Correct Answer: Option D
Explanation
The general ledger should include the date, description and balance or total amount for each account. It is usually divided into at least seven main categories. These categories generally include assets, liabilities, owner’s equity, revenue, expenses, gains and losses.