Answer: They could either use the Income and expenditure or purchases journal too.
Explanation: Because its a Yoga Studio, lots of expenses will be made and appropriate postings are to be entered on time.
Answer:
By using the purchase journal.
Explanation:
A purchase journal is an accounting journal used to keep record of items ordered through the use of account payable. Simply put, a purchase journal is the primary entry book used in recording credit transactions.
A purchases journal is the record of every acquisition made on credit at a particular period. It is a journal used for tracking the requests placed using accounts payable or vendor credit including the current balance indebted each vendor.
A purchase journal has different columns for recording the date, vendor's name, invoice number, invoice date, particulars, vendor's account, credit terms, and total.
