Question

Refer to information in Exercise EC-14.
In EC-14
Feb. 1 Sold merchandise inventory on account to Crisp Co., $1,325. Cost of goods, $870. Invoice no. 401.
6 Sold merchandise inventory for cash, $920 (cost, $660).
12 Collected interest revenue of $140.
15 Received cash from Crisp Co. in full settlement of its account receivable. There was no discount.
20 Sold merchandise inventory on account to Drummer Co., issuing invoice no. 402 for $500 (cost, $425).
22 Sold merchandise inventory for cash, $570 (cost $450).
26 Sold office supplies to an employee for cash of $180.
28 Received $480 from Drummer Co. in full settlement of its account receivable. Drummer earned a discount by paying early. Terms are 4/10, n/15.
Requirements
1. Prepare headings for a cash receipts journal. Journalize the transactions that should be recorded in the cash receipts journal.
2. Total each column of the cash receipts journal.


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  • CreatedJune 15, 2015
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