If you’re ever in Santa Cruz, California, take some time to visit Bookshop Santa Cruz. You’ll find books “that entertain, help solve problems, or occasionally, change a life.”
Since opening in 1966, Bookshop Santa Cruz has been a vital part of the Bay Area. The bookstore takes immense pride in being an independent bookseller, a rare commodity in today’s world of large corporate booksellers such as Barnes & Noble’s.
The bookstore has several buyers who are responsible for spotting reading trends, reordering current books, and purchasing the newest and hottest books on the market. Each time a buyer makes a purchase and every time Bookshop Santa Cruz makes a sale, a transaction must be recorded. Discuss the advantages a store such as Bookshop Santa Cruz would gain by recording the receipt of cash from sales in the cash receipts journal and the payment of cash for purchases in the cash payments journal?