The following series of transactions are Gold Standard Reminisce (GSR) dealings with Golden Gables (GG). The Gold Standard Reminisce's annual accounting period ends on December 31. 09/02/20 Sold $16,850 of merchandise to Golden Gables, signing a 10%, 150 day note. Prepared the adjusting journal entry to record accrued interest on the note. 12/31/20 01/30/21 GSR receives a check from Golden Gables for the maturity value (with interest) of the note. 02/01/21 Golden Gables' check is returned by the bank along with a $25 fee. Golden Gables' account is considered a bad debt and written off Golden Gables' bankruptcy trustee sends a check for $2,864. 09/20/21 03/06/22 Record all of the transactions between GSR & GG. Remember to utilize proper journal entry format including accounts with a subsidiary ledger.

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Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.