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he company sells a 2/10, n/30 basis. Internet control quite weak, so the senior accountant in charge of the examination of the company's financial statements asked you to make a careful review of the Cash Receipts Book for the month of July, 2020, which is reproduced below. You are asked to compute the cash short or ove

he company sells a 2/10, n/30 basis. Internet control quite weak, so the senior accountant in charge of the examination of the company's financial statements asked you to make a careful review of the Cash Receipts Book for the month of July, 2020, which is reproduced below. You are asked to compute the cash short or ove

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The company sells a 2/10, n/30 basis. Internet control quite weak, so the senior accountant in charge of the examination of the company's financial statements asked you to make a careful review of the Cash Receipts Book for the month of July, 2020, which is reproduced below. You are asked to
compute the cash short or over.

Cash Receipts Cash Accounts Date Account Item Cash Sales Discount Receivable P 784 588 7/5 Bart 6/12 invoice P 16 P 800 7/10 Carrie 6/30 invoice 12 б00 7/11 Cash Sales 25 25 7/12 Bart 7/1 invoice 294 300 7/13 7/14 | Antonio Cash Sales 32 32 7/3 invoice 877 23 900 7/15 7/16 Cash Sales 38 38 Bart 686 14 700 7/18 Cash Sales 30 30 7/20 | Carrie 7/20 | Cash Sales 7/9 invoice 578 б00 12 27 27 7/27 Bart 7/16 invoice 490 10 500 P 4,439 P 142 103 4,400 6.
Transcribed Image Text:Cash Receipts Cash Accounts Date Account Item Cash Sales Discount Receivable P 784 588 7/5 Bart 6/12 invoice P 16 P 800 7/10 Carrie 6/30 invoice 12 б00 7/11 Cash Sales 25 25 7/12 Bart 7/1 invoice 294 300 7/13 7/14 | Antonio Cash Sales 32 32 7/3 invoice 877 23 900 7/15 7/16 Cash Sales 38 38 Bart 686 14 700 7/18 Cash Sales 30 30 7/20 | Carrie 7/20 | Cash Sales 7/9 invoice 578 б00 12 27 27 7/27 Bart 7/16 invoice 490 10 500 P 4,439 P 142 103 4,400 6.
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