
Concept Introduction:
Sales Journal: Sales journal is prepared to record the on account or credit sales. The journal usually has following columns to record the transaction:
• Date
• Invoice Number
• Customer account debited
• Post. Ref.
•
• Cost of Goods sold Debit Merchandise Inventory Credit
Cash Receipts Journal: Cash Receipts journal is prepared to record all the receipts of cash. This journal usually has following columns to record the transaction:
• Date
• Account credited
• Post. Ref.
• Cash Debit
• Sales Discount Debit
• Accounts Receivable Credit
• Sales Revenue Credit
• Other accounts Credit
• Cost of Goods sold Debit Merchandise Inventory Credit
To identify: The missing information in the cash receipts journal using the sales journal given.

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Chapter 7 Solutions
Horngren's Accounting (11th Edition)
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