A receipt journal is a chronological listing of issued receipts.

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Prepare for the Clerk Certification Level II Test. Utilize multiple-choice questions, flashcards, and detailed explanations. Set yourself up for exam success!

Multiple Choice

A receipt journal is a chronological listing of issued receipts.

Explanation:
A receipts journal records cash inflows in date order. It tracks when money is received, who paid, and through what method, so it captures receipts coming into the business. The idea of “issued receipts” refers to the documents you give to customers when they pay, which is not what the receipts journal lists. Instead, the journal focuses on the actual cash receipts and their amounts, not the act of issuing a receipt. That’s why the statement is not correct.

A receipts journal records cash inflows in date order. It tracks when money is received, who paid, and through what method, so it captures receipts coming into the business. The idea of “issued receipts” refers to the documents you give to customers when they pay, which is not what the receipts journal lists. Instead, the journal focuses on the actual cash receipts and their amounts, not the act of issuing a receipt. That’s why the statement is not correct.

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