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Accounting Cassandra Wilson Company uses a six-column cash receipts journal with the following columns Cash (Dr.) Sales Discounts (Dr.) Accounts Receivable (Cr.) Sales (Cr.) Other

Accounting
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Cassandra Wilson Company uses a six-column cash receipts journal with the following columns Cash (Dr.) Sales Discounts (Dr.) Accounts Receivable (Cr.) Sales (Cr.) Other Accounts (Cr.) Cost of Goods Sold (Dr.) and Merchandise Inventory (Cr.) Cash receipts transactions for the month of July 2010 are as follows July 3 Cash sales total $5,800 (cost, $3,480). 5 Received a check for $6,370 from Jeltz Company in payment of an invoice dated June 26 for $6,500, terms 2/10,n/30. 9 Cassandra Wilson, the proprietor, made an additional investment of $5,000 in cash in the business. 10 Cash sales total $12,519 cost $7,511). 12 Received a check for $7.275 from R. Eliot & Co. in payment of a $7.500 invoice dated July 3, terms 3/10,n/30, 15 Received a customer advance of $700 cash for future sales. 20 Cash sales total $15,472 (cost $9.283) 22 Received a check for $5,880 from Beck Company in payment of $6,000 invoice dated July 13, terms 2/10,n/30. 29 Cash sales total $17.660 (cost, $10,596). 31 Received cash of $200 on interest earned for July Instructions A. Journalize the transactions in the cash receipts journal. B. Record all cash receipts in the cash receipts journal. C. The "account credited" indicates items posted individually to the subsidiary ledger or to the general ledger D. Record cash sales in the cash receipts journal-not in the sales journal E The total debits must equal the total credits

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