Refer to the information in Exercise 7-7.
In Exercise 7-7
During February, Bryant Corporation had the following transactions:
Feb. 1 Sold merchandise inventory on account to Curtis Co., $1,025.
Cost of goods, $780. Invoice no. 401.
6 Sold merchandise inventory for cash, $860 (cost, $640).
12 Collected interest revenue of $80.
15 Received cash from Curtis Co. in full settlement of its account receivable. There was no discount.
20 Sold merchandise inventory on account to Delgado Co., issuing invoice no. 402 for $440 (cost, $330).
22 Sold merchandise inventory for cash, $560 (cost $420).
26 Sold office supplies to an employee for cash of $80.
28 Received $431 from Delgado Co. in full settlement of its account receivable. Delgado earned a discount by paying early. Terms are 2/10, n/15.
Required
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.