Cash receipts journal: Cash receipts journal is a journal which records all the cash receipts in the business. This record the cash purchases, cash sales, and the cash received in the business. This is a special journal. One column or two column cash receipt journal has not enough space for all cash receipts, so the companies use a multiple column cash receipts journal. To indicate: The column of posting for accounts receivable

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Answer 1

Question

Chapter 7, Problem 10BE

(a)

To determine

Cash receipts journal: Cash receipts journal is a journal which records all the cash receipts in the business. This record the cash purchases, cash sales, and the cash received in the business. This is a special journal. One column or two column cash receipt journal has not enough space for all cash receipts, so the companies use a multiple column cash receipts journal.

To indicate: The column of posting for accounts receivable

(b)

To determine

To indicate: The column of posting for sales discount

(c)

To determine

To indicate: The column of posting for cash

(d)

To determine

To indicate: The column of posting for other accounts

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Answer 2

Question

Chapter 7, Problem 10BE

(a)

To determine

Cash receipts journal: Cash receipts journal is a journal which records all the cash receipts in the business. This record the cash purchases, cash sales, and the cash received in the business. This is a special journal. One column or two column cash receipt journal has not enough space for all cash receipts, so the companies use a multiple column cash receipts journal.

To indicate: The column of posting for accounts receivable

(b)

To determine

To indicate: The column of posting for sales discount

(c)

To determine

To indicate: The column of posting for cash

(d)

To determine

To indicate: The column of posting for other accounts

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 7, Problem 10BE

(a)

To determine

Cash receipts journal: Cash receipts journal is a journal which records all the cash receipts in the business. This record the cash purchases, cash sales, and the cash received in the business. This is a special journal. One column or two column cash receipt journal has not enough space for all cash receipts, so the companies use a multiple column cash receipts journal.

To indicate: The column of posting for accounts receivable

(b)

To determine

To indicate: The column of posting for sales discount

(c)

To determine

To indicate: The column of posting for cash

(d)

To determine

To indicate: The column of posting for other accounts

Expert Solution & Answer

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Answer 4

Question

Chapter 7, Problem 10BE

(a)

To determine

Cash receipts journal: Cash receipts journal is a journal which records all the cash receipts in the business. This record the cash purchases, cash sales, and the cash received in the business. This is a special journal. One column or two column cash receipt journal has not enough space for all cash receipts, so the companies use a multiple column cash receipts journal.

To indicate: The column of posting for accounts receivable

(b)

To determine

To indicate: The column of posting for sales discount

(c)

To determine

To indicate: The column of posting for cash

(d)

To determine

To indicate: The column of posting for other accounts

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 5

Chapter 7, Problem 10BE

(a)

To determine

Cash receipts journal: Cash receipts journal is a journal which records all the cash receipts in the business. This record the cash purchases, cash sales, and the cash received in the business. This is a special journal. One column or two column cash receipt journal has not enough space for all cash receipts, so the companies use a multiple column cash receipts journal.

To indicate: The column of posting for accounts receivable

(b)

To determine

To indicate: The column of posting for sales discount

(c)

To determine

To indicate: The column of posting for cash

(d)

To determine

To indicate: The column of posting for other accounts

Answer 6

Chapter 7, Problem 10BE

(a)

To determine

Cash receipts journal: Cash receipts journal is a journal which records all the cash receipts in the business. This record the cash purchases, cash sales, and the cash received in the business. This is a special journal. One column or two column cash receipt journal has not enough space for all cash receipts, so the companies use a multiple column cash receipts journal.

To indicate: The column of posting for accounts receivable

Answer 7

Chapter 7, Problem 10BE

(a)

To determine

Cash receipts journal: Cash receipts journal is a journal which records all the cash receipts in the business. This record the cash purchases, cash sales, and the cash received in the business. This is a special journal. One column or two column cash receipt journal has not enough space for all cash receipts, so the companies use a multiple column cash receipts journal.

To indicate: The column of posting for accounts receivable

Answer 8

(b)

To determine

To indicate: The column of posting for sales discount

Answer 9

(b)

To determine

To indicate: The column of posting for sales discount

Answer 10

(c)

To determine

To indicate: The column of posting for cash

Answer 11

(c)

To determine

To indicate: The column of posting for cash

Answer 12

(d)

To determine

To indicate: The column of posting for other accounts

Answer 13

(d)

To determine

To indicate: The column of posting for other accounts

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 7 - Prob. 1Q Ch. 7 - Prob. 2Q Ch. 7 - 3. What are common features of computerized...Ch. 7 - Prob. 4Q Ch. 7 - Prob. 5Q Ch. 7 - 6. (a) When do companies normally post to (1) the...Ch. 7 - 7. Identify and explain the four special journals...Ch. 7 - 8. Kensington Company uses special journals. It...Ch. 7 - Prob. 9Q Ch. 7 - 10. Why would special journals used in different...

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To indicate: The column of posting for sales discount

To indicate: The column of posting for cash

To indicate: The column of posting for other accounts

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