Special Journals: Sales Journal - Introduction
In the previous sections, you learned how to record different business transactions in a general journal. Recording transactions in a general journal is time consuming. This is because each transaction requires at least three journal lines: one for debit, one for credit, and one for the narration or explanation posted in the ledger accounts.
In a merchandising business, transactions occur in bulk. Therefore, to increase speed and efficiency, these businesses use special journals like sales and cash receipts.