If a journal entry includes a debit or credit to the Cash account, it is most likely which of the following?

Q: Which of the following entries records the receipt of cash from clients on account? a.Accounts…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: he type of transaction that would appear in the sales journal would be a sale of equipment for cash…

A: Solution: The sales journal is an accounting journal which keeps records of all of the credit sales…

Q: What is the purpose of the cash receipts journal?

A: MEANING : PURPOSE: It is used to track the sales of items while cash is being received, by…

Q: When cash is drawn from bank for business use the entry type will be? Select one: a. Contra entry b.…

A: a. Contra Entry - These are the transactions that involves  cash and bank account. b. Compound Entry…

Q: record the following transactions in their corresponding journals it could be in: -sales journal…

A: An accounting cycle refers to the different stages in the preparation of the final accounts. Final…

Q: REQUIRED: IDENTFY ONE ACCOUNT AND ONE ASSERTION FOR EACH CONDITION (IDENTIFY EITHER THE DEBIT OR…

A: Journal entries: It is the duty of the accountant to record business economic and non-economic…

Q: Which one of the following columns in a cash receipts journal is not posted in total to an account…

A: Cash: Cash is the money which is readily available in the form of currency. Since cash can be easily…

Q: Every transaction recorded in the cash payments journal includes  Credit to Cash. Debit to Accounts…

A:

Q: Match the following types of journal transactions with the journal in which they would be entered.…

A: Journal: Recording of a business transactions in a chronological order.

Q: How to enter that transaction into a cash receipts journal and also into a cash payments journal

A: Cash Receipt Journal: Cash receipt journal is an accounting journal, in which all cash receipts are…

Q: For each of the transactions, state which special journal (sales journal, cash receipts journal,…

A: For each of the transactions, state which special journal (sales journal, cash receipts journal,…

Q: where would borrowed cash go on transaction worksheet

A: The borrowed cash is the amount of cash received by the entity through many ways - like from banks,…

Q: What steps are followed in posting from the cash payments journal to the general ledger?

A: Cash payments journal:   Cash payments journal refers to the journal that is used to record the all…

Q: Which of the following is recorded in the cash receipts journal?

A: Answer:   Option C

Q: Why should cash receipts be deposited on the same day they are received?

A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…

Q: The cash receipts journal is used to record all transactions that include a debit to the Cash…

A: A cash account is a trading account that mandates the account holder to pay for all securities…

Q: Which of the following would not be an appropriate heading for a column in the cash receipts…

A: Cash receipt journal records the receipt of cash from sales to customers. Cash receipt journal…

Q: A journal designated for entering only sales on account is called cash receipts journal cash…

A: A journal designated for entering cash receipt is called cash receipts journal A journal designated…

Q: ash rece

A: cash receipts journal ought to have a history of your money transactions. exploitation your sales…

Q: Identify the journal in which each of the following transactions is recorded. Transactions Journals…

A: Every journal entry we record in journals. There are types of journals like -  Cash payments journal…

Q: I’m confused on how to enter these into the table. Specifically b & c. My table options are…

A: ACCOUNT RECEIVABLE; An account receivable is defined as it is money that has not been paid by…

Q: When company uses special journal , the transaction of settling company liabilities record in.. a.…

A: Journal is the recording of financial transactions according to the dual entity concept and it helps…

Q: Regarding sources of cash, is granting credit to a custom

A: Companies give credit to customers to increase sales.

Q: A cash book is used to record

A: A cash book contains all cash receipts and payments transactions in detail, including bank deposits…

Q: Credits to customer accounts and credits to Other Accounts are individually posted from a cash…

A:

Q: Explain the statement: “Receipt and Payment Account is a summarisedversion of Cash Book”.

A: Receipts and payment account is a real account. It records all the cash and bank transactions made…

Q: . A cash remittance from the branch to the home office is recorded by the home office as a. Debit…

A: Cash Remittance from branch to home Office is recorded by the Home office as   Journal Entry will be…

Q: Why are cash receipts required to be deposited the same day they are received?

A: Cash receipts represent the revenue received for the sale of goods or services.

Q: Make a cash receipts journal using the following transactions and also include the total debits and…

A: A cash receipts journal is a special type of accounting journal which records all the transactions…

Q: Which of the following items is known as the base for preparing the trial balance; Cash Account…

A: Trial balance includes both temporary accounts and permanent accounts. All expenses, losses, and…

Q: When posting the column totals of a cash payments journal, a debit should be posted to a.Unearned…

A: answer  c    Account  Payable is right answer.

Q: A cash sale is recorded in the: A sales journal B purchase journal c) cash receipts journal D cash…

A: Cash book is maintained by the firms to record all the cash transactions. These may be cash sales,…

Q: what is procedure to posting account payable ledger in cash disbursements system

A: Accounts payable forms a part of current liabilities and represents the amount that the entity owes…

Q: Explain the effect of adjusting journal entries on cash.

A: Adjusting entries: Adjusting entries are the journal entries which are recorded at the end of the…

Q: Identify the journal (general, sales, purchases, cash receipts or cash payments journal) in which…

A: 1. The all cash receipt are recorded in cash receipts journal 2. The all cash payment are recorded…

Q: Match the terms with the definitions.     A journal designed for recording only certain kinds of…

A: In accounting specific journals are used for specific purposes to make the accounting process…

Q: It is the basis for the preparation of Journal Entry Voucher for the final recording in the cash…

A: The question is related to identifying the basis for the preparation of Journal Entry Voucher for…

Q: The receipt of cash arising from sales transaction would be recorded in the cash payments journal…

A: The special journal include cash receipts Journal, cash payments journal, sales Journal and…

Q: When are the only times the Petty Cash account is used in a journal entry?

A: The only times when the petty cash account is used in a journal entry is as follows:During…

Q: Provide some examples of transactions that would be recorded in the Other Accounts CR column of the…

A: Cash receipts journal: A cash receipts journal is a special kind of journal book that only records…

Q: Cash payments journal Sale on account General journal Collection on account Purchases journal…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Which of the following entries records receiving the cash payment from a customer for previous…

A: When a service is performed and the cash is receivable on such service from customer then such…

Q: 6. Indicate whichjoumal would be used to record the following transactions. Select from the…

A: Sales Journal – For all credit sales of inventory Purchase Journal – For all credit purchase of…

Q: All reconciling items are used to determine the adjusted cash balance per books require the account…

A: