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navik [9.2K]
2 years ago
13

Record the following transactions for the month of November 2019 in the cash receipts journal. Total, prove, and rule the cash r

eceipts journal as of November 30.
Nov. 1 Collected $2,300 from Katie Bing, a credit customer on account.
10 Received a check from Mike Drake to pay his $3,700 promissory note plus interest of $240.
13 Received $4,100 from Jessie Cole, a credit customer, in payment of her account.
15 Had cash sales of $26,500 plus sales tax of $2,300. There was a cash overage of $14.
Business
1 answer:
gregori [183]2 years ago
7 0

Answer and Explanation:

The presentation of the cash receipt journal is as follows;

<u>Date   Description    Account     Sale      Sale     Title      Amount   Cash </u>

<u>                                   Receivable tax       Credit    of                        debit</u>

<u>                                   Credit        Payable           Account</u>

<u>                                                     Credit</u>

Nov 1    Katie Bing       $2,300                                                               $2,300

Nov 10  Collection

 From mike drake                                             Note receivable  $3,700

                                                                          Interest income   $240  $3,940

Nov 13 Jessie cole      $4,100                                                                   $4,100

Nov 15  Cash sales                    $2,300   $26,500 Cash overage $14  $28,814

Nov 30 Totals               $6,400  $2,300   $26,500        $3,954        $39,154

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