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How do record transactions in the cash receipts journal

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Reference no: EM132822704

Riya Cosmetics has provided you with the following information about the transactions that the company incurred during the month of June.

  1. Jun 5Received $3,000 from a cash sale to Faces Inc. (cost $2,400).
  2. Jun 6Received $720 from Facial Fresh regarding outstanding accounts receivable.
  3. Jun 10Received $700 for the cash sale of 5 facial scrubs (cost $630) to Seizers Salon.
  4. Jun 17Received $115 in interest earned from the Springfield Bank.
  5. Jun 26Took out a loan of $4,800 from the bank.

Problem 1: Record these transactions in the cash receipts journal.

Reference no: EM132822704

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