Answer to Question #305163 in Marketing for Busi

Question

How to record the cpj and post to general ledger

Answer 1

CPJ means cash payment journal. In CPJ, we record only cash payments. These payments are done for creditors, repayment of loans, and other expenses. When buying with cash or any transaction that involves giving the company money by actually paying it to the company or the company's bank account it will always fall under the CPJ (Cash payments journal). This also includes payments for things such as telephone bills, rent expenses, cash drawings, and paying salaries.