Special Journals: Sales and Cash Receipts - Objectives
After you have completed this section, you will be able to:
- Record transactions in cash receipts journals.
- Post transactions from cash receipts journals to customer accounts in the accounts receivable subsidiary ledger.
- Foot, prove, total, and rule sales and cash receipts journals.
- Post column totals from cash receipts journals to general ledger accounts.
- Prepare a schedule of accounts receivable.
- Define the accounting terms introduced in this section.