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Special Journals: Cash Receipts , Page 10

Recording Cash Sales - Example

The procedure for entering cash sales in the cash receipts journal can be illustrated  using the following example. 

On January 15, Olympic records the cash sales for the first two weeks of January as $ 6,000.00 and $ 360.00 in related sales taxes. The source document for this transaction is tape 55. 

The image below displays the tape and journal entry for this transaction. 

the tape and journal entry