Adv. Accounting - Chapter 2 True, False

records of departmental operating expenses are necessary to determine departmental gross profit from operations
True False

in a departmental business, each sales invoice shows the amount of merchandise sold by a department
True False

preparing two copies of a sales invoice provides a copy for the customer and a copy for the business to use for journalizing the transaction
True False

each departmental sales journal entry is posted individually as a credit to the appropraite customer's account
True False

after posting a line of departmetal sales journal, the customer number is recorded in the journal's post ref column
True False

an account showing deductions from a sales account is known as a contra cost account
True False

the vendor prepares a debit memorandum for a sales returns and allowances transaction
True False

a cash discount on sales is called a sales discount
True False

a departmental cash receipts journal contains a cash debit column for each department
True False

both the debit part and the credit part of a cash or credit card sales transaction are entered in special amount columns in a departmental cash receipts journal
True False

each amount in the accounts receibale credit column of a departmental cash receipts journal is posted individually to the accounts receivable ledger
True False

each amount in the sales credit columns of a departmental cash receipts journal is posted often to the appropraite account in the general ledger
True False

each amount in the cash debit column of a departmental cash receipts jourdan is posted individually to the debit side of the cash account
True False

the total of the sales credit column of a departmental cash receipts journal is posted to a general ledger account
True False

after the totals of special amount columns have been posted, the general ledger acount numbers are written in parentheses below the special columns in the cash receipts journal
True False