The following transactions took place at Athlete’s Gear during the first week of October 2013. Indicate how these transactions would be entered in a cash receipts journal.
DATE | TRANSACTIONS |
Oct. 1 | Had cash sales of $5,600 plus sales tax of $448; there was a cash overage of $12. |
2 | Collected $790 on account from James Wu, a credit customer. |
3 | Had cash sales of $5,250 plus sales tax of $420. |
4 | Eddie Reynolds, the owner, made an additional cash investment of $19,000. |
6 | Had cash sales of $6,400 plus sales tax of $512; there was a cash shortage of $20. |
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