Current Attempt in Progress In order to have good internal control, the individual responsible for the sales journal should also be responsible for O cash receipts. O inventory. all general journal entries. O none of the above Save for Later Attempts: 0 of 1 used Submit Ans Question 8 of 20 View Policies Current Attempt in Progress When using subsidiary ledgers O only credit transactions are posted to the accounts payable subsidiary ledger. O only debit transactions are posted to the accounts receivable subsidiary ledger. O all cash and credit sales are posted to the subsidiary ledger. O all collections on account are posted to the subsidiary ledger. Save for Later View Policies Current Attempt in Progress When using special journals for recording and posting transactions, it does not matter if it is a perpetual inventory or periodic inventory system They are essentially the same with two exceptions 1) relating to account titles used and 2) the need under one for an additional column for COGS They are exactly the same processes and accounts. The two are completely different It is not possible to identify the type of inventory system being used from the special journal Save for later Attempts: 0 of 1 used Submit
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