On a sheet of notebook paper, draw a Cash Receipts Journal like the one in Exhibit 7.10 and journalize the following March 2014 cash receipts transactions for Suttleton Company.
Mar. 18 Collected the amount owing regarding the $3,000 of merchandise sold to Tim Edson on March 3; terms 2/15, n/30; invoice #1103.
30 Willis Company paid for the $10,800 of merchandise purchased on March 10; terms 2/15, n/30; invoice #1104.
31 Sold $6,200 of merchandise to ABC Company for cash (cost $4,216).