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Review the following transactions: (Click the icon to view the transactions.) Requirements 1. Prepare headings for a cash receipts journal. Journalize the transactions that should
Review the following transactions: (Click the icon to view the transactions.) Requirements 1. Prepare headings for a cash receipts journal. Journalize the transactions that should be recorded in the cash receipts journal. 2. Total each column of the cash receipts journal. Requirements 1 & 2. Prepare headings for a cash receipts journal. Journalize the transactions that should be recorded in the cash receipts journal. Total each column of the cash receipts journal. (If a box is not used in the journal leave the box empty; do not select information and do not enter a zero. Abbreviations used: Disc. = Discount, Acct. = Accounts, Pay. = Payable, Rec. = Receivable, Rev. = Revenue, Oth. = Other, COGS = Cost of Goods Sold, Mer. = Merchandise, Inv. = Inventory, and Sis Dsc. Forf. = Sales Discounts Forfeited.) Cash Receipts Journal Page 1 COGS DR Mer. Inv. CR More Info Date Account Credited PR Cash DR Acct. Rec. CR Sales Rev. CR Sis Dsc. Forf. CR Oth. Acct. CR Feb. 1 12 Feb. 1 Sold merchandise inventory on account, terms n/30, to Collin Co., $1,275. Cost of goods, $890. Invoice no. 401. Feb. 6 Sold merchandise inventory for cash, $980 (cost, $690). Feb. 12 Collected interest revenue of $190. Feb. 15 Received cash from Collin Co. in full settlement of its account receivable. Feb. 20 Sold merchandise inventory on account, terms n/30, to Dust Co., issuing invoice no. 402 for $900 (cost, $725). Feb. 22 Sold merchandise inventory for cash, $590 (cost $450). Feb. 26 Sold office supplies to an employee for cash of $80. Feb. 28 Received $900 from Dust Co. in full settlement of its account receivable. Feb. 28 Totals Print Done Help Me Solve This e Text Pages Get More Help Clear All Check
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