Jul. 5 Sold merchandise inventory for cash, $1,700. Cost of goods, $1,400. 12 Collected interest revenue of

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Jul. 5 Sold merchandise inventory for cash, $1,700. Cost of goods, $1,400.

12 Collected interest revenue of $2,050.

18 Received cash from Heidi Next, $1,200, on account. There was no discount.

29 Received $5,300 from Mitch Dylan in full settlement of his account receivable including sales discounts forfeited of $20.

Use the following cash receipts journal to record the preceding transactions.

Cash Receipts Journal Page 3 Cost of Goods Sold DR Merchandise Inventory CR Sales Discounts Forfeited CR Account Credite

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Horngrens Financial And Managerial Accounting The Financial Chapters

ISBN: 9780134486840

6th Edition

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

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Question Posted: Oct 27, 2017 04:29 AM

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Jul. 5 Sold merchandise inventory for cash, $1,700. Cost of goods, $1,400. 12 Collected interest revenue of

Question:

Cash Receipts Journal Page 3 Cost of Goods Sold DR Merchandise Inventory CR Sales Discounts Forfeited CR Account Credited Other Accounts CR Post. Accounts Sales Ref. Cash DR Receivable CR Revenue CR Date 2018

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Requirement 1 Cash Receipts Journal Page 3 Date Account Credited Post Ref Cash DR Ac...View the full answer

Horngrens Financial And Managerial Accounting The Financial Chapters

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