Question

Use the following cash receipts journal to record the transactions. (If a box is not used in the journal leave the box empty; do not select any information and do not enter a zero. Abbreviations used: Disc. = Discounts, Forfeit. = Forfeited; Rec. = Receivables, Rev. = Revenue, Accts = Accounts, Inv. = Inventory) A (Click the icon to view the transactions.) Post. Cash Receipts Journal Accounts Sales Sales Disc. Other Rec. CR Rev. CR Forfeit. CR | Accts CR Page 3 Cost of Goods Sold DR Merchandise Inv. CR Date Account Credited Ref. Cash DR 2018 A More Info Jul. 5 Sold merchandise inventory for cash, $2,600. Cost of goods, $1,300. 12 Collected interest revenue of $2,000. 18 Received cash from Helen Nix, $800, on account. There was no discount. 29 Received $5,800 from Matt Day in full settlement of his account receivable including sales discounts forfeited of $35. [ Print Print Done Done

Answer 1

Cash Receipts Journal
Date	Account Credited	Post ref.	Cash DR	Accounts Rec. CR	Sales Rev. CR	Sales Disc. Forfeit CR	Other Accts CR	Cost of Goods Sold DR Merchandise Inv. CR
2018
July 5	Sales		2,600		2,600			1,300
July 12	Interest revenue		2,000				2,000
July 18	Helen Nix		800	800
July 29	Matt Day		5,800	5,765		35
	Total		$11,200	$$6,565	$2,600	$35	$2,000	$1,300

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