Requirements 1 & 2. Prepare headings for a cash receipts journal. Journalize the

Question

Requirements 1 & 2. Prepare headings for a cash receipts journal. Journalize the transactions that should be recorded in the cash receipts journal. Total each column of the cash receipts journal. (If a box is not used in the journal leave the box empty, do not select information and do not enter a zero. Abbreviations used. Disc. = Discount. Acct = Accounts. Pay= Payable Rec. = Receivable, Rev Revenue Oth. = Other, COGS = Cost of Goods Sold Mer. = Merchandise in.: Im en ory, and S s Dsc Fot.: Sales Discounts For eited Cash Receipts COGS DR Mer Date Account Credited PR Cash DR Acct. Rec. CR Sales Rev. CR Sls Dsc. Forf. CR Oth. Acct. CR Inv. CR Feb. Feb. 28 Totals

Explanation / Answer

Journal Entry

Cash Receipt Journal

CGS

Merchandise

Date Journal Debit Credit Feb 1 Accounts receivable-Call co. 1025 Sales 1025 cost of goods sold 850 Merchandise inventory 850 Feb 6 Cash 960 Sales 960 Cost of goods sold 730 Merchadise inventory 730 Feb 12 Interest receivable 160 Interest revenue 160 Feb 15 Cash 1025 Accounts receviable 1025 Feb 20 Accounts receivable-Dump co. 440 Sales 440 cost of goods sold 425 Merchandise inventory 425 Feb 22 Cash 640 Sales 640 cost of goods sold 450 Merchandise inventory 450 Feb 26 Cash 130 Supplies 130 Feb 28 Cash 440 Account receivable 440

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.