Task 3 -Journal Entries For this task you will need to record the deposit and the sale of the cake a We will use a 'double entry' accounting style or a 'T' account to demonstr You will need to record the deposit in the CASH - JOURNAL Then you will need to record the SALE in the ACCOUNTS RECEIVABLE -JO (If you haven't done a double entry account before you may like to refer to Steps Self-Questions Answers What did the Company receive? Cash. 1 If the Company received cash, how would this affect the cash Receiving cash increases the 2 balance? cash balance of the company. Which side of cash account represents the increase in cash? Debit side (Left side). 3 What is the account name to record the sales of products? Accounts Receivable 4 Which side of accounts receivable account represents the Credit side (Right side). 5 increase in sales? Does the sum of debit side amounts equal to the sum of credit Yes. 6 side amounts? e.g $120 = $120 In other words, does this journal entry balance