12/6/2023 0 Comments Cash receipts example![]() June 10: The firm sold marketable securities for $2,000 that were purchased for $1,800 June 2: Collected from Perry Alexander (account no. To learn more about how cash receipts journals are used, let's consider an example.Īssume that, during June, the Fortune Retail Store made the following transactions involving cash receipts: It is set up in the same way that the other column on the debit side is, except that the account title area is replaced by a "Ref." column. In our example, the only other credit column featured in the cash receipts journal is for all other accounts. Again, other columns can be used depending on the type of routine transactions that the firm engages in. The credit columns in a cash receipts journal will most often include both accounts receivable and sales. If desired, the area for the name of the account in this column can be replaced with an area for account numbers.
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