Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

Sunrise Coffee Shop, in an effort to streamline its accounting system, has decided to utilize a cash receipts journal. Record the following transactions for the

Sunrise Coffee Shop, in an effort to streamline its accounting system, has decided to utilize a cash receipts journal. Record the following transactions for the first two weeks in March, total the columns, an include the posting references. A partial chart of accounts is given below. After recording the transactions, indicate if there are any additional columns you would add to this journal. Mar.
1
Received cash for beverage sales, $
3
7
5
.
1
Received cash for food sales, $
2
5
0
.
1
Received cash for customer sales of Sunrise's signature coffee mugs, $
1
3
0
.
7
Received cash for beverage sales, $
4
8
0
.
7
Received cash for food sales, $
3
2
5
.
7
Received cash for customer sales of Sunrise's signature coffee mugs, $
1
1
5
.
1
0
Received cash on account from Central.com, $
9
0
0
.
Chart of Accounts
(
Partial
)
\
table
[
[
1
0
Cash,
4
1
Beverage Revenue
]
,
[
1
2
Account Receivable,
4
2
Food Revenue
]
,
[
1
5
Retail it
3
,
4
3
Retail Revenue
]
]
If an amount box does not require an entry, leave it blank. CASH RECEIPTS JOURNAL

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_2

Step: 3

blur-text-image_3

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

Financial Accounting For Executives And MBAs

Authors: Wallace, Simko, Ferris

4th Edition

1618531980, 9781618531988

More Books

Students explore these related Accounting questions