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Use the following cash receipts journal to record the transactions. (If a box is not used in the journal leave the box empty; do
Use the following cash receipts journal to record the transactions. (If a box is not used in the journal leave the box empty; do not sele used: Disc. = Discounts, Forfeit. Forfeited; Rec. - Receivables, Rev. Revenue, Accts = Accounts, Inv. Inventory) (Click the icon to view the transactions.) Cash Receipts Journal Post. Accounts Sales Sales Disc. Date Account Credited Ref. Cash DR Rec. CR Rev. CR Forfeit. CR Other Accts CR 2024 Jul. More info Jul. 5 Jul. 12 Sold merchandise inventory for cash, $2,400. Cost of goods, $1,500. Collected interest revenue of $2,150. Jul. 18 Received cash from Harvey Nip, $1,050, on account. There was no discount. Page Cost of Goods Sold DR Merchandise Inv. CR Jul. 29 Received $5,900 from Melanie Damn in full settlement of his account receivable including sales discounts forfeited of $55. Print Done
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