Final answer:
Cash received from sales on accounts recorded in the Sales Journal is posted in the Cash Journal and then consolidated in the General Ledger, reflecting the flow of the transaction from credit sale to cash payment.
Step-by-step explanation:
The question relates to the process of recording financial transactions in accounting journals and ledgers. Specifically, cash received from sales on accounts (in the Sales Journal) would be posted in the Cash Journal. When a company makes a sale on account, it means that the customer has purchased goods or services on credit, and the amount of the sale would initially be recorded in the Sales Journal. Later, when the customer pays the invoice, the cash received is recorded in the Cash Journal. The amounts from the Cash Journal are then posted to the General Ledger, where all different types of transactions are consolidated.
Please note that in some cases, these processes can be automated in accounting software, which may blend traditional journals and ledgers into combined digital records. However, the conceptual distinction between the Sales Journal, Cash Journal, and General Ledger remains important for understanding accounting practices.