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Glencoe Accounting: First Year Course, Student Edition | 1st Edition | ISBN: 9780078688294 | Authors: Glencoe
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Completing the Cash Receipts Journal The cash receipts journal for the month of January

Chapter 16, Problem 16-3

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QUESTION:

Completing the Cash Receipts Journal

The cash receipts journal for the month of January is provided in your working papers and illustrated here.

Instructions In your working papers, foot, prove, total, and rule the cash receipts journal.

Questions & Answers

QUESTION:

Completing the Cash Receipts Journal

The cash receipts journal for the month of January is provided in your working papers and illustrated here.

Instructions In your working papers, foot, prove, total, and rule the cash receipts journal.

ANSWER:

                                                                  Step 1 of 2

The cash receipts journal is considered as a special journal that is used to record all cash receipt transactions occurred due to operational activities. Cash in Bank Debit column is a permanent column of cash receipts journals as every financial transaction recorded in it debits the Cash in Bank account. The number of credit columns depends on the company’s needs and thus it is variable.

                                                                 

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