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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:

 Nov. 1 Jean Haghighat made payment on account, $750.

  12 Marc Antonoff made payment on account, $464.

  15 Made cash sales, $3,763.

  18 Will Mossein made payment on account, $241.

  25 Made cash sales, $2,648.

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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