Describe the transactions that are recorded in a special sales journal by completing the following sentence. Only (purchases/receipts/sales) of inventory on (cash/credit) as well as the charges for sales taxes owed, are recorded in a sales journal.

Only SALES of inventory on CREDIT as well as the charges for sales taxes owed, are recorded in a sales journal.

Explanation:

Only the company's sales on credit are recorded in the sales journal. If the company is a retailer or manufacturer, it will record its sales of inventory.

While the cash receipts journal is used to record sales on cash.

They are kept separate because the balance of the sales journal should equal accounts receivable on the balance sheet.

the assumption the narrator makes in this excerpt is that the messages he heards were going to hurt the narrator's mom; the narrator just springs in to action. the narrator doesn't specify in this excerpt why he believes that the messages present a problem that requires protection.

due to the changes the federal reserve is making the unused reserves will impact the economy by them facing inflation. inflation is definfed as the increase in pricing of a good or service but the decline of the value of money used for purchasing those items. when the economy has a high inflation rate, they are subject to money loss and hurt on the economy.