Midwest enterprises uses special journals. the company borrowed $10,000 from first state bank. This transaction is recorded in the Cash receipt Journal.
A cash receipts magazine is a specialized accounting journal and it is called the main access book utilized in an accounting system to preserve track of the sales of objects while cash is acquired, with the aid of crediting sales and debiting cash and transactions related to receipts. sales on account are booked rather within the income journal.
Cash receipts journal is considered as the separate part of coins account/cash ebook as it data the cash inflow of the enterprise. The source report of this prime entry book is Receipt.
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