Problem 8-3A Objective: To record cash receipts in a cash receipts journal The cash receipts of Sargent's Variety Store for September 20X1 follow: 20X1 Sep. 2 Collected $720 from Phil Williams on account. bjective 5 (Q re $9,509.68 ry Sargent, the owner, invested an additional $2,000 in the business Collected the amount due from Edna Hansen for the sale of August 16, $285, less a 1% cash discount. 5 Jer 12 Collected $397.50 from Jean Evans on account. 15 Cash sales for the first half of the month amounted to $1,076.45. 19 Received a cash refund for an overcharge on a purchase of equipment. $3, Collected the amount due from Avco Co. for the sale of September 12, $410, less a 2% cash discount. 2 Sold old equipment for cash, $375 discount. week, $75. 23 27 Collected the amount due from Sylvia Portland, $442.75, less a 3% cash 29 Received a cash refund for the return of defective merchandise purchascd din 30 Cash sales for the second half of the month amounted to $3,692.98 Directions: 1. Record the transactions in a cash receipts journal. Use page 19 of the joumal 2. Total the journal, and prove the equality of the debies and credins in tie colum totals. Then, rule the journal. Cash Receipts Journal Page 19 Sales Accounts Receivable Cr. Date Account Credited P.R- General Cr. Il sales cr. |Discounts 1 Dr Cash Dr. 2081 Sep