1. The individual amounts in the sales journal are posted to the accounts receiv

1. The individual amounts in the sales journal are posted to the accounts receivable subsidiary ledgeryearly.daily.weekly.monthly.2. In which journal would a cash purchase of merchandise inventory be recorded?Purchase journalGeneral journalCash payments journalNone of these.3. During July the following purchases and sales were made by James Company. There was no beginning inventory. James Company uses a perpetual inventory system.PurchasesSalesJuly320 units @ $12July1325 units1120 units @ $132210 units2010 units @ $15Under the FIFO method the cost of goods sold for each sale is:July 13July 22375150$300 $120 3251303051304. In large companies the independent internal verification procedure is often assigned tomanagement.computer operators.outside CPAs.internal auditors.