Final answer:
The SRA journal is used when a company uses the Specific Rate Analysis (SRA) method to calculate the cost of goods sold. The Sales journal is used to record sales transactions.
Step-by-step explanation:
The SRA journal is used specifically when a company uses the Specific Rate Analysis (SRA) method to calculate the cost of goods sold. This method assigns a specific rate to each item in inventory based on its cost and then multiplies that rate by the number of units sold to determine the cost of goods sold. The SRA journal is used to record these calculations. On the other hand, the Sales journal is used to record the sales transactions of a company, including the date of the sale, the customer, the item sold, and the amount of the sale.