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Special Journals: Cash Receipts , Page 5

Recording Cash from Charged Customers – Example

 The following example illustrates the steps to record a cash transaction.

On January 15, Olympic Sports Wear received $424 from Kevin Sports to apply for an account. The source document for this transaction is receipt No. 102.

The image below displays the cash receipt and cash receipts journal entry for this transaction.

cash receipt

 

cash receipts journal entry