Record the following transactions for the month of November 2016 in the cash rec

Question

Record the following transactions for the month of November 2016 in the cash receipts journal. Total, prove, and rule the cash receipts journal as of November 30 (Record your transactions in the given order. Leave no cells blank; if no effect, select "None" and enter "0" wherever required.) Nov. 1 Collected $1,400 from Katie Bing, a credit customer on account 10 Received a check from Mike Drake to pay his $2.800 promissory note plus interest of $168. 13 Received $3,200 from Jessie Cole, a credit customer, in payment of her account. 15 Had cash sales of $22,000 plus sales tax of $1,540. There was a cash overage of $5.

Explanation / Answer

Cash Receipt Journal Other Account Cash Debit Date   Description Accounts Receivable Credit Sales Tax Payable Credit Sales Credit Account Title Amount Credit Nov 1. Collection from Customer Katie Bing on a/c                   1,400               1,400 Nov 10. Note receivable Principal receipt Note Receivable            2,800               2,800 Note Receivable interest receipt Interest Revenue                168                   168 Nov 13. Collection from Customer Jessies Cole                   3,200               3,200 Nov 15. Cash sales receipt with sales tax payable & cash overage             1,540            22,000 Cash Short and Over                     5             23,545 Nov 30. Totals                   4,600             1,540            22,000            2,973             31,113

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