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Hi.
in the book of ACCA, F3(BPP learning media) it is stated that journal is the record of prime entry for transactions which are not recorded in any of the other books of prime entry.. but in example it is showen that sales on credit are recorded in journal. i ask u, if we record those transactions in journal which are not recorded in any of the other books of prime entry, why we record sales on credit in journal? we know we do it in the sales day book once.
Sales on credit are not recorded in the journal. They are recorded in the sales day book (which is also known as the ‘receivables journal’).
The journal itself is (as your book says) used to record transactions that are not recorded in any other book.
(Maybe you are confusing with ‘journal entries’. A journal entry is what we call it when we write down any entry rather than showing t-accounts. For example, is someone sent you and email asking you what the entry was for (for example) paying rent in cash. You would reply in words ” Dr Rent; Cr Cash’. We call it a journal entry when we write an entry in words).
You might find the free lecture on Books of Prime Entry to be useful.
do we do journal entries in day books? do we record all transactions as journal entries or with words, like sentences in day books( such as in sales day book and journal)?
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