Question
You are given the following information of KY Traders for 30 September 2021: Favourable balance of general ledger bank account132 500Favourable balance of bank statement120
You are given the following information of KY Traders for 30 September 2021:
Favourable balance of general ledger bank account132 500Favourable balance of bank statement120 000Total of the cash receipts journal300 000Total of the cash payments journal167 500
Additional information:
The following information appeared on the bank statement only:
a) Bank charges of $700.
b) Interest on a favourable balance of $1 830.
c) Debit order to RJ Insurers for insurance of $6 250.
d) Incorrect credit of $5 000 made by a client of the bank into the bank account of KY Traders as the client captured the incorrect beneficiary details.
e) On 29 September the owner of KY Traders, Mr Ken Yao, made an EFT into the bank account of KY Traders for $50 000 as an additional capital contribution.
The following information appeared in the cash journals of KY Traders only:
f) A cash payment of $237 578 was entered in the cash receipts journal on the 29 September of 2021 but was only deposited 1 October 2021 by the bookkeeper.
g) The bookkeeper incorrectly entered the amount paid to the creditor, HG Traders, as $987 instead of $789 which was correctly stated on the bank statement.
What will the correct cash receipts journal entries in the books of KY Traders be for September 2021?
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