Tlamelo
Tlamelo Tlamelo
  • 14-06-2021
  • Business
contestada

should EFT payments also be recorded in cash payments journal​

Respuesta :

DrTobiasFunke
DrTobiasFunke DrTobiasFunke
  • 14-06-2021

Answer:

Yes I believe

Explanation:

EFT payments are just another form of payments (electronic way) and these can definitely be recorded in cash payment journal (or also known as cash disbursement journal). These journals will record any cash transfer, not just that of physical cash. This includes checks and electronic funds transfers or any other cash equivalent.

Here's more on this:

https://simple-accounting.org/cash-disbursement-journal/

https://www.investopedia.com/terms/c/cash-disbursement-journal.asp

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