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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

JOURNALIZING CASH RECEIPTS Enter the following transactions in a cash receipts journal:

 July 6 Daren Chesbrough made payment on account, $527.

  10 Made cash sales for the week, $2,470.

  14    Adam Casady made payment on account, $394.

  15    Yue Zou made payment on account, $203.

  17    Made cash sales for the week, $2,360.

To determine

Record the given transactions in a cash receipts journal.

Explanation

Cash Receipts Journal:  It is a special book where only cash receipts transactions that are received from customers, merchandise sales and service made in cash and collection of accounts receivable are recorded.

The following are the some examples of transactions that would be recorded in the Other Accounts credit column of the cash receipts journal:

  • • Cash received...

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