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June 10: The firm sold marketable securities for $2,000 that were purchased for $1,800

June 2: Collected from Perry Alexander (account no.

To learn more about how cash receipts journals are used, let's consider an example.Īssume that, during June, the Fortune Retail Store made the following transactions involving cash receipts: It is set up in the same way that the other column on the debit side is, except that the account title area is replaced by a "Ref." column. In our example, the only other credit column featured in the cash receipts journal is for all other accounts. Again, other columns can be used depending on the type of routine transactions that the firm engages in. The credit columns in a cash receipts journal will most often include both accounts receivable and sales. If desired, the area for the name of the account in this column can be replaced with an area for account numbers. One column for the post reference (in this case, labeled "Ref.").In the example below, the only other debit column is the other accounts column. Other debit columns may be used if the firm routinely engages in a particular transaction. The debit columns in a cash receipts journal will always include a cash column and, most likely, a sales discount column. This is necessary because there are numerous transactions that lead to the receipt of cash. As the example shows, a typical cash receipts journal consists of many columns. The image below shows a standard cash receipts journal. The cash receipts journal is used to record all transactions involving the receipt of cash, including transactions such as cash sales, the receipt of a bank loan, the receipt of a payment on account, and the sale of other assets such as marketable securities. Loan from an individual, bank, or any other financial institution.Collection of interest, dividends, or rent.Investment of capital by the proprietor or owner.

The major sources of cash receipt in a business include: A cash receipts journal is a special journal used to record cash received by a business from any source.