Solution-Prepare a multiple-column cash receipts journal

Prepare a multiple-column cash receipts journal

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Reference no: EM13543394

R. Santiago Co. uses special journals and a general journal. The following transactions occurred during May 2014.

May	1	R. Santiago invested $40,000 cash in the business.
	2	Sold merchandise to Lawrie Co. for $6,300 cash. The cost of the merchandise sold was $4,200.
	3	Purchased merchandise for $7,700 from J. Moskos using check no. 101.
	14	Paid salary to H. Rivera $700 by issuing check no. 102.
	16	Sold merchandise on account to K. Stanton for $900, terms n/30. The cost of the merchandise sold was $630.
	22	A check of $9,000 is received from M. Mangini in full for invoice 101; no discount given.

Instructions

(a) Prepare a multiple-column cash receipts journal a multiple-column cash payments journal

(b) Record the transaction(s) for May that should be journalized in the cash receipts journal and cash payments journal.

Reference no: EM13543394

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Prepare a multiple-column cash receipts journal

Reference no: EM13543394

Reference no: EM13543394

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