SECTION 16.2 Recording Cash Received on Account, Less a Cash Discount Enter the cash discount amount in the Sales Discounts Debit column. Glencoe Accounting Unit 4 Chapter 16 Copyright © by The McGraw-Hill Companies, Inc. Enter the original sales transaction amount in the Accounts Receivable Credit column. Enter the customer’s name in the Account Name column. Enter the receipt number in the Document Number column. SECTION 16.2 Recording Cash Received on Account, Less a Cash Discount Follow these steps to record a cash receipt transaction with a cash discount: Enter the receipt date in the Date column. Enter the amount of cash received in the Cash in Bank Debit column. Enter the decrease in the amount owed in the Accounts Receivable Credit column. SECTION 16.2 Recording Cash from Charge Customers Follow these steps when journaling cash receipts from charge customers: Enter the transaction date in the Date column. Every entry debits the Cash in Bank account. SECTION 16.2 Journalizing and Posting to the Cash Receipts Journal The cash receipts journal is a special journal used to record all cash receipt transactions. SECTION 16.2 Key Terms cash receipts journal schedule of accounts receivable Glencoe Accounting Unit 4 Chapter 16 Copyright © by The McGraw-Hill Companies, Inc. the purpose of the schedule of accounts receivable. You Will Learn how to use the cash receipts journal. SECTION 16.2 Main Idea Cash receipts journal is used to record the cash a business receives. What Do You Think? What column headings do you think will be listed in the cash receipts journal? Glencoe Accounting Unit 4 Chapter 16 Copyright © by The McGraw-Hill Companies, Inc. 0 Chapter 16, Section 2 Special Journals: Sales and Cash Receipts
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