Question
XYZ Corporation maintains a cash book for the month of January 2024 with the following transactions: Date Description Receipts ($) Payments ($) Balance ($) Jan
XYZ Corporation maintains a cash book for the month of January 2024 with the following transactions:
Date | Description | Receipts ($) | Payments ($) | Balance ($) |
Jan 1 | Opening Balance | - | - | $10,000 |
Jan 5 | Sales Receipts | $8,000 | - | $18,000 |
Jan 10 | Rent Payment | - | $2,000 | $16,000 |
Jan 15 | Supplier Payment | - | $5,000 | $11,000 |
Jan 20 | Loan Repayment | - | $3,000 | $8,000 |
Jan 25 | Customer Refund | $2,000 | - | $10,000 |
Jan 31 | Closing Balance | - | - | $10,000 |
Prepare the cash book for January 2024 and analyze the closing balance.
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Horngrens Accounting
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood
10th Canadian edition Volume 1
978-0134213101, 134213106, 133855376, 978-0133855371
