College Accounting, Chapters 1-27
Solutions
College Accounting, Chapters 1-27
List three items of information about each cash receipt entered in the cash receipts journal.
List three items of information about each cash receipt entered in the cash receipts journal.
Cash Receipts Journal:Â 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 as interest on notes receivable.
- • Interest revenue received from debtors.
- • Cash receipts from bank deposites.
- • Cash receipts for capital investments...
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