Cash Receipts Journal Cash receipts journal is a special journal where the business records all cash receipts including cash sales of merchandise, collections of accounts receivables, disposal of assets, cash receipts from bank loans, and issuance of stocks and bonds. Companies maintains multi column to serve different purpose of cash receipts. To Ascertain: If the customers’ ledger account agrees with the Accounts Receivable control account when the accounts receivable column is mistakenly over-added by $4,000.

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Answer 1

Question

Chapter J, Problem 7Q

(a)

To determine

Cash Receipts Journal

Cash receipts journal is a special journal where the business records all cash receipts including cash sales of merchandise, collections of accounts receivables, disposal of assets, cash receipts from bank loans, and issuance of stocks and bonds. Companies maintains multi column to serve different purpose of cash receipts.

To Ascertain: If the customers’ ledger account agrees with the Accounts Receivable control account when the accounts receivable column is mistakenly over-added by $4,000.

(b)

To determine

To Ascertain: If the trial balance totals will be equal when the accounts receivable column is over-added by $4,000.

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Answer 2

Question

Chapter J, Problem 7Q

(a)

To determine

Cash Receipts Journal

Cash receipts journal is a special journal where the business records all cash receipts including cash sales of merchandise, collections of accounts receivables, disposal of assets, cash receipts from bank loans, and issuance of stocks and bonds. Companies maintains multi column to serve different purpose of cash receipts.

To Ascertain: If the customers’ ledger account agrees with the Accounts Receivable control account when the accounts receivable column is mistakenly over-added by $4,000.

(b)

To determine

To Ascertain: If the trial balance totals will be equal when the accounts receivable column is over-added by $4,000.

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Answer 3

Question

Chapter J, Problem 7Q

(a)

To determine

Cash Receipts Journal

Cash receipts journal is a special journal where the business records all cash receipts including cash sales of merchandise, collections of accounts receivables, disposal of assets, cash receipts from bank loans, and issuance of stocks and bonds. Companies maintains multi column to serve different purpose of cash receipts.

To Ascertain: If the customers’ ledger account agrees with the Accounts Receivable control account when the accounts receivable column is mistakenly over-added by $4,000.

(b)

To determine

To Ascertain: If the trial balance totals will be equal when the accounts receivable column is over-added by $4,000.

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Answer 4

Question

Chapter J, Problem 7Q

(a)

To determine

Cash Receipts Journal

Cash receipts journal is a special journal where the business records all cash receipts including cash sales of merchandise, collections of accounts receivables, disposal of assets, cash receipts from bank loans, and issuance of stocks and bonds. Companies maintains multi column to serve different purpose of cash receipts.

To Ascertain: If the customers’ ledger account agrees with the Accounts Receivable control account when the accounts receivable column is mistakenly over-added by $4,000.

(b)

To determine

To Ascertain: If the trial balance totals will be equal when the accounts receivable column is over-added by $4,000.

Expert Solution & Answer

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Answer 5

Chapter J, Problem 7Q

(a)

To determine

Cash Receipts Journal

Cash receipts journal is a special journal where the business records all cash receipts including cash sales of merchandise, collections of accounts receivables, disposal of assets, cash receipts from bank loans, and issuance of stocks and bonds. Companies maintains multi column to serve different purpose of cash receipts.

To Ascertain: If the customers’ ledger account agrees with the Accounts Receivable control account when the accounts receivable column is mistakenly over-added by $4,000.

(b)

To determine

To Ascertain: If the trial balance totals will be equal when the accounts receivable column is over-added by $4,000.

Answer 6

Chapter J, Problem 7Q

(a)

To determine

Cash Receipts Journal

Cash receipts journal is a special journal where the business records all cash receipts including cash sales of merchandise, collections of accounts receivables, disposal of assets, cash receipts from bank loans, and issuance of stocks and bonds. Companies maintains multi column to serve different purpose of cash receipts.

To Ascertain: If the customers’ ledger account agrees with the Accounts Receivable control account when the accounts receivable column is mistakenly over-added by $4,000.

Answer 7

Chapter J, Problem 7Q

(a)

To determine

Cash Receipts Journal

Cash receipts journal is a special journal where the business records all cash receipts including cash sales of merchandise, collections of accounts receivables, disposal of assets, cash receipts from bank loans, and issuance of stocks and bonds. Companies maintains multi column to serve different purpose of cash receipts.

To Ascertain: If the customers’ ledger account agrees with the Accounts Receivable control account when the accounts receivable column is mistakenly over-added by $4,000.

Answer 8

(b)

To determine

To Ascertain: If the trial balance totals will be equal when the accounts receivable column is over-added by $4,000.

Answer 9

(b)

To determine

To Ascertain: If the trial balance totals will be equal when the accounts receivable column is over-added by $4,000.

Answer 10

Expert Solution & Answer

Answer 11

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Answer 12

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Answer 13

Ch. J - Prob. 1Q Ch. J - Prob. 2Q Ch. J - Prob. 3Q Ch. J - Prob. 4Q Ch. J - Prob. 5Q Ch. J - Prob. 6Q Ch. J - Prob. 7Q Ch. J - Prob. 8Q Ch. J - Prob. 9Q Ch. J - Prob. 10Q

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To Ascertain: If the trial balance totals will be equal when the accounts receivable column is over-added by $4,000.

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