Document the Receipt: Since you are starting with Receipt no. 1206, you would create a new receipt entry with this number. The receipt would include the date (02/08/20XX), the payer's name (Ted Johnson), the property address (2 Second St Wodonga), the amount received ($350.00), and the purpose of the payment (advertising campaign). Enter the Transaction in the Cash Receipts Journal: In the Cash Receipts Journal, you would record the details of the transaction. This would typically include the date, receipt number, description of the transaction (advertising payment), the payer's name, and the amount. Update the Ledger: The ledger should be updated to reflect the receipt of funds. You would enter the transaction under the appropriate account, which in this case might be an "Advertising Fees" account or a similar account designated for such income. Ensure Adequate Funds: Before processing any payments from the trust account, you must ensure that there are adequate funds available. Since this is a receipt, it increases the funds in the trust account. Prepare for Monthly Reconciliation: Keep track of this transaction as it will need to be accounted for in the monthly reconciliation to ensure that the trust account balances correctly. Remember to follow the accounting principles and internal controls set by Your Home Real Estate Pty Ltd, and use the appropriate software or spreadsheet templates provided to you for recording these transactions