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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.

FINANCIAL ACCOUNTING
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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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.
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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