Record the following transactions in the cash receipts journal.Jun. 12Your company received payment in full from Jolie Inc. in the amount of $1,323 for merchandise purchased on June 4 for $1,350, invoice #1032. Jolie Inc. was offered terms of 2/10, n/30. Record the payment.Jun. 15Portman Inc. mailed you a check for $2,900. The company paid for invoice #1027, dated June 1, in the amount of $2,900, terms offered 3/10, n/30.Jun. 17Your company received a refund check (its check #12440) from the State Power Company because you overpaid your electric bill. The check was in the amount of $52. The Utility Expense account number is #450. Record receipt of the refund.If an amount box does not require an entry, leave it blank.

The cash receipt journal is one of the accounting records where only cash receipts are recorded. It…

Answered: Record the following transactions in…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter12: Special Journals

Section: Chapter Questions

Problem 4CE: Enter the following transactions in a cash payments journal like the one illustrated in the chapter:...

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Record the following transactions in the cash receipts journal.

Jun. 12	Your company received payment in full from Jolie Inc. in the amount of $1,323 for merchandise purchased on June 4 for $1,350, invoice #1032. Jolie Inc. was offered terms of 2/10, n/30. Record the payment.
Jun. 15	Portman Inc. mailed you a check for $2,900. The company paid for invoice #1027, dated June 1, in the amount of $2,900, terms offered 3/10, n/30.
Jun. 17	Your company received a refund check (its check #12440) from the State Power Company because you overpaid your electric bill. The check was in the amount of $52. The Utility Expense account number is #450. Record receipt of the refund.

If an amount box does not require an entry, leave it blank.

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