Required Complete the cash receipts journal for those transactions indicated. There are no sales discounts. Also, total the journal and show that total debits equal total credits.
Required Complete the cash receipts journal for those transactions indicated. There are no sales discounts. Also, total the journal and show that total debits equal total credits.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:E7-4 The sales and cash receipts journals of Manitoba Maple Products include the following entries:
Sales Journal
Invoice
Date
No.
Account
Debited
Post.
Accounts Receivable Dr
Cost of Goods Sold Dr
Ref.
Sales Revenue Cr
Inventory Cr
May 7
671
I. Pax
✓
220
72
10
672
W. Singh
✓
120
58
10
673
F. Zehr
✓
120
50
12
674
J. Legg
✓
240
120
31
Total
700
300
Cash Receipts Journal
Debits
Credits
Other Accounts
Cost of Goods
Date
Sales Accounts Sales Account Post.
Cash Discounts Receivable Revenue Title
Sold Dr
Ref.
Amount
Inventory Cr
May 16
I. Pax
✓
19
F. Zehr
✓
24
600
600
380
30
W. Singh
✓
Required
4
Complete the cash receipts journal for those transactions indicated. There are no sales discounts. Also,
total the journal and show that total debits equal total credits.
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