The cash receipts journal below contains five entries. All five entries are for legitimate cash receipt transactions, but the journal contains some errors in recording the transactions. In fact, only one entry is correct, and each of the other four entries contains one error.

\section*{Required}
1. Identify the correct entry.
2. Identify the error in each of the other four entries.
3. Using the following format, prepare a corrected cash receipts journal.

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Debits Cash Receipts Journal Credits Page 5 Other Accounts Cost of Goods Sales Date Cash Discounts Accounts Receivable Sales Account Post. Sold Debit Revenue Title Ref. Amount Inventory Credit 715 711 34 745 Meg Davis 9 346 346 Carl Ryther 10 8,000 8,000 Land 19 19 73 44 31 1,060 1,133 631 9,844 34 1,091 9,479 Totals 675 (11) (42) (12) (41) () Total Dr. $9,878 = Total Cr. $10,570 =