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Concept explainers
Cash Receipts Journal
Cash receipts journal is used to record merchandise sales and service made in cash and collection of accounts receivable. It also records all other cash receipts from issuance of shares and bonds, bank loans, and proceeds from disposal of assets. To include all these transactions, companies use multi-column cash receipts journal.
Cash Payments Journal
Cash payments journal is used to record merchandise purchases made in cash and payments of accounts payable. It also records all other cash payments to various purposes. To include all these transactions, companies use multi-column cash payments journal.
To indicate: the journal and columns in the journal that is used for recording transaction.
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Chapter J Solutions
FINANCIAL&MNGRL ACCT (LL)W//WILEYPLUS>C
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
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