Credits to customer accounts and credits to Other Accounts are individually posted from a cash receipts journal
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Credits to customer accounts and credits to Other Accounts are individually posted from a cash receipts journal such as the one in Exhibit 7.7. Why not put both types of credits in the same column and save journal space?
Exhibit 7-7:
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ANSWER There are a few reasons why credits to customer accounts and credits to other accounts are in...View the full answer
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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