Question on: WAEC Accounting - 2014
Which of the following is used to record the disposal of a fixed asset?
A
journal proper
B
petty cash book
C
sales day book
D
purchase day book
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Correct Option: A
The journal proper is in recording books with original entries used for miscellaneous credit transactions that do not fit into other recorded books. The journal is maintained like a simple journal to record opening entries, closing entries, transfer entries, adjustment entries,rectification entries, and rare transactions.
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