Question

Record the following transactions for the month of April 2019 in the cash receipts journal. Total, prove, and rule the cash receipts journal as of April 30. a April 3 Collected $350 from Margo Daub, a credit customer on account. 8 Kevin Sharp, the owner, invested an additional $5,000 cash in the business. 9 Received a cash refund of $30 for damaged supplies. 15 Had cash sales of $5,500 plus sales tax of $385. There was cash overage of $5. 18 Received $800 from Brian Cobb, a credit customer, in payment of his account. 20 Received a check from Phil Stout to pay his $ 700 promissory note plus interest of $42. 30 Had cash sales of $3,800 plus sales tax of $266. There was a cash shortage of $5. CASH RECEIPTS JOURNAL Other Accounts Credit Date Description Accounts Receivable Credit Sales Tax Payable Credit Sales Credit Account Title Amount Cash Debit April 03, 2019 April 08, 2019 April 09, 2019 April 15, 2019 April 18, 2019 April 20, 2019 April 30, 2019 April 30, 2019 Totals

Answer 1

CASH RECEIPTS JOURNAL
					Other Accounts Credit
Date	Description	Accounts Receivable Credit	Sales Tax Payable Credit	Sales Credit	Account Title	Amount	Cash Debit
Apr. 3	Collections from credit customer	$350					$350
Apr. 8	Cash invested as additional capital				Owner's Capital	$5,000	$5,000
Apr. 9	Cash Refund for damaged supplies				Inventory	$30	$30
Apr. 15	Cash sales ($5,500 + $385 + $5)		$385	$5,500	Cash Overage	$5	$5,890
Apr. 18	Collections from credit customer	$800					$800
Apr. 20	($700 + $42)				Interest Revenue	$42	$742
					Notes Receivable	$700
Apr. 30	Cash sales ($3,800 + $266 - $5)		$266	$3,800	Cash Shortage	($5)	$4,061
Apr. 30	Totals	$1,150	$651	$9,300		$5,772	$16,873

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