Following is a cash receipts journal and a partial chart of accounts for a company. For each
Question:
Following is a cash receipts journal and a partial chart of accounts for a company. For each posting reference a through k, enter
(1) An x for an amount not individually posted,
(2) A ✓ for individual posting to the customer’s account in the accounts receivable subsidiary ledger, or
(3) An account number for a posting to the general ledger.
Transcribed Image Text:
Cash Receipts Journal Sales Accounts Other Cost of Goods Discount Receivable Accounts Sold Dr. Date Account Credited Explanation PR Cash Dr. Dr. Cr. Sales Cr. Cr. Inventory Cr. May 1 Interest revenue Bank account (a) (b) (c) (d) (e) 100 100 3,000 Notes Payable K. Korver E. Bled 10 Note to bank 3,000 17 Invoice, 5/2 693 700 1,200 2,000 6,993 18 Invoice, 5/9 1,200 31 Sales Cash sales 2,000 1,150 31 Totals 1,900 2,000 3,100 1,150 (f) (g) (h) (i) (S) (k) Account No. Account No. Cash.. 101 Interest revenue. 409 Accounts Receivable 106 Sales .. 413 Inventory... 119 Sales discount 415 Notes payable..... 245 Cost of goods sold 502
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