E7-4 The sales and cash receipts journals of Manitoba Maple Products include the following entries:Sales JournalInvoiceDateNo.AccountDebitedPost.Accounts Receivable DrCost of Goods Sold DrRef.Sales Revenue CrInventory CrMay 7671I. Pax✓2207210672W. Singh✓1205810673F. Zehr✓1205012674J. Legg✓24012031Total700300Cash Receipts JournalDebitsCreditsOther AccountsCost of GoodsDateSales Accounts Sales Account Post.Cash Discounts Receivable Revenue TitleSold DrRef.AmountInventory CrMay 16I. Pax✓19F. Zehr✓2460060038030W. Singh✓Required4Complete 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.

The accounting journal that is used to record cash receipts and cash discounts is called the cash…

Answered: Required Complete the cash receipts…

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.

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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