Special Journals: Sales and Cash Receipts - Introduction
In the previous section you learned about sales journals of various types. In this section, we will discuss the cash receipt journal. For a merchandising business, the common sources to receive cash are: cash sales, bank card sales, and payment from charge customers. Some businesses receive a number of checks when transactions occur in bulk. In order to streamline and handle the cash receipts efficiently, you use special journals including sales journals and cash receipt journals.