Question

Which of these are recorded in journal proper?

• A. Transfer entry
• B. Opening/Closing entry
• C. Rectifying entry
• D. All the three

Answer 1

The correct option is D All the three

When the journal is sub-divided into various subsidiary books, such as sales book, Purchase book, etc.,the journal becomes the residuary book in which only those transactions are recorded that cannot be recorded in any subsidiary book. This type of journal is called Journal proper. The following types of entries are recorded in Journal proper:

1. Closing entry

2. Opening entry

3. Rectification entries

4. Transfer entries

5. Adjustment entries

6. Miscellaneous entries

Thus, cash discount received or allowed is recorded in the Journal proper.