Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Record the following transactions for the month of April, 2016 in the cash receipts journal. Total, prove, and rule the cash receipts journal as of

image text in transcribed
Record the following transactions for the month of April, 2016 in the cash receipts journal. Total, prove, and rule the cash receipts journal as of April 30. April 3 Collected $510 from Margo Daub, a credit customer on account. 8 Kevin Sharp, the owner, invested an additional $6, 600 cash in the business. 9 Received a cash refund of $110 for damaged supplies. 15 Had cash sales of $7, 100 plus sales tax of $545. There was a cash overage of $21. 18 Received $1, 600 from Brian Cobb, a credit customer, in payment of his account. 20 Received a check from Phil Stout to pay his $1, 500 promissory note plus interest of $58. 30 Had cash sales of $5, 400 plus sales tax of $426. There was a cash shortage of $21

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Environmental Audits

Authors: Cliff VanGuilder

1st Edition

1938549600, 978-1938549601

More Books

Students also viewed these Accounting questions

Question

Discuss all branches of science

Answered: 1 week ago