Chapter 7, Problem 3E

To determine

Concept Introduction:

Types of Journal: There are two types of journal in which a transaction is reflected or recorded.

The two types of journals are –

• Special Journals that includes, sales journal, purchase journal, cash receipts journal and cash payment journals. All the transactions related to the type of journal are recorded in the respective journal

• General Journal includes all the transactions other than the above mentioned transactions are recorded in this journal.

In a cash receipts journal, all the transactions related to cash receipts are recorded in the cash receipts journal and all the cash sales are also recorded in the cash receipts journal since it will be considered as cash receipt.

The format of Cash Receipts journal is as follows –

Cash Receipts Journal
Date	Account Credited	Cash Dr	Sales Discount Dr.	Accounts receivables Cr.	Sales Cr.	Other Accounts Cr.

To prepare:

Headings for cash receipts journal and Journalize the November Transactions that should be recorded in the cash receipts journal

Cash Receipts Journal
Date	Account Credited	Cash Dr	Sales Discount Dr.	Accounts receivables Cr.	Sales Cr.	Other Accounts Cr.
Nov-09	Notes Receivables	3,750	0	0	0	3,750
Nov-13	J. Ali, Capital	5,000	0	0	0	5,000
Nov-18	Sales	330	0	0	330	0
Nov-27	J. Than	980	20	1,000	0	0