Dec 1: Made cash sales of $15,000. Dec 1: Received $9,000 cash for a three-month rental of equipment. Note: Wolfpack uses the traditional approach for recording deferrals. Dec 4: Received cash from Dalgado for the balance owed. Dec 4: After the above return, Eastern paid Wolfpack the remaining balance that is owed. Dec 5: Received $16,000 in cash on the accounts receivable from Winters. Note: Receipts are first applied to the oldest invoice. Dec 6: Received payment in full from Townsend. Dec 7: Received a check for payment in full from Rogers. Dec 8: Recorded weekly cash sales of $45,000. Dec 12: Received a check in the amount of $4,000 from Winters towards the balance owed. Dec 12: Wolfpack received cash dividends of $5,000 on some of its investments. Dec 13: Received a check from Wilson for $29,400. Dec 15: Recorded weekly cash sales of $27,000. Dec 15: Received a check from Wilson in full settlement of balance owed. Dec 20: Received a check from Townsend for payment of the balance still owed. Dec 27: Received $27,000 in cash from the sale of a parcel of its land. The parcel had an original cost of $22,000. Date explanation A/R Sub Account Cash (debit) Sales Revenue (credit) Accounts Receivable (credit) Other (credit) Other Account Name
Could anyone explain this problem? How would you put these statements in a cash receipt journal?
Dec 1: Made cash sales of $15,000.
Dec 1: Received $9,000 cash for a three-month rental of equipment. Note: Wolfpack uses the traditional approach for recording deferrals.
Dec 4: Received cash from Dalgado for the balance owed.
Dec 4: After the above return, Eastern paid Wolfpack the remaining balance that is owed.
Dec 5: Received $16,000 in cash on the
Dec 6: Received payment in full from Townsend.
Dec 7: Received a check for payment in full from Rogers.
Dec 8: Recorded weekly cash sales of $45,000.
Dec 12: Received a check in the amount of $4,000 from Winters towards the balance owed.
Dec 12: Wolfpack received cash dividends of $5,000 on some of its investments.
Dec 13: Received a check from Wilson for $29,400.
Dec 15: Recorded weekly cash sales of $27,000.
Dec 15: Received a check from Wilson in full settlement of balance owed.
Dec 20: Received a check from Townsend for payment of the balance still owed.
Dec 27: Received $27,000 in cash from the sale of a parcel of its land. The parcel had an original cost of $22,000.
| Date | explanation | A/R Sub Account | Cash (debit) |
Sales Revenue (credit) |
Accounts Receivable (credit) | Other (credit) | Other Account Name |
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