Provide JOURNAL ENTRIES FOR THE FOLLOWING

($ million)

CASH

Non Cash

TOTAL

7	Receivables - Cash Receipts from Customers [A]
			Cash Receipts	.
	Receipts, prior year		300
	Receipts, current year		800
	TOTAL CASH RECEIPTS		1100	0	1100
	[A] See transaction [2] for the accrual of Credit Sales
8	Vendors - Cash Payments to Vendors [B] - CASH OUTFLOWS
	Cash paid on prior year		300
	Cash paid in current		100
		Subtotal	400	0	400
	[B] See transaction [1} for the purchase on credit in current year.

						OUtFLOW
25	50 in Debt carried as a Liability is repurchased for Cash					50	50
	This represents its Fair Value and its Carrying Amount