5.3 The Cash Receipts Journal

5.3

THE CASH RECEIPTS

JOURNAL

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5.3 THE CASH RECEIPTS JOURNAL

Business

Cash Receipts Journal

Records all cash inflows of the business:

Cash sales

Collections from debtors

Capital contributions

Loans

GST received



Date Details Receipt

Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6

Jan 5 Debtor - D. Barr 652 80 80

Jan 6 Capital 653 5000 5000

Jan 10 Cash sales 654 110 60 100 10

Jan 12 Cash sales 655 66 30 60 6

Jan 14 Cash sales 656 132 70 120 12

Jan 14 Cash sales 657 110 60 100 10

Jan 17 Debtor - P. Ashworth 658 200 200

Jan 20 Cash sales 659 154 70 140 14

Jan 21 Interest on investments --- 143 143

Jan 24 Cash sales 660 99 50 90 9


Jan 31 Total receipts 6260 380 370 670 5143 67

Format of the Cash Receipts Journal…

Date – the date of each

individual cash receipt

Details – the name of the

ledger account effected

(for debtors write the

debtor’s name)

Receipt Number – issued

by the business (run in

sequential order)

Bank – the total amount of

cash received





Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000

Jan 10 Cash sales 654 110 60 100 10

Jan 12 Cash sales 655 66 30 60 6

Jan 14 Cash sales 656 132 70 120 12

Jan 14 Cash sales 657 110 60 100 10


Jan 20 Cash sales 659 154 70 140 14


Jan 24 Cash sales 660 99 50 90 9






Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000

Jan 10 Cash sales 654 110 60 100 10

Jan 12 Cash sales 655 66 30 60 6

Jan 14 Cash sales 656 132 70 120 12

Jan 14 Cash sales 657 110 60 100 10


Jan 20 Cash sales 659 154 70 140 14


Jan 24 Cash sales 660 99 50 90 9



Debtors Control– the total

deducted from the debtor’s

account





Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000

Jan 10 Cash sales 654 110 60 100 10

Jan 12 Cash sales 655 66 30 60 6

Jan 14 Cash sales 656 132 70 120 12

Jan 14 Cash sales 657 110 60 100 10


Jan 20 Cash sales 659 154 70 140 14


Jan 24 Cash sales 660 99 50 90 9






Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000

Jan 10 Cash sales 654 110 60 100 10

Jan 12 Cash sales 655 66 30 60 6

Jan 14 Cash sales 656 132 70 120 12

Jan 14 Cash sales 657 110 60 100 10


Jan 20 Cash sales 659 154 70 140 14


Jan 24 Cash sales 660 99 50 90 9



Cash sales – the amount of each

sale, the GST collected and the

cost of the sale





Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000

Jan 10 Cash sales 654 110 60 100 10

Jan 12 Cash sales 655 66 30 60 6

Jan 14 Cash sales 656 132 70 120 12

Jan 14 Cash sales 657 110 60 100 10


Jan 20 Cash sales 659 154 70 140 14


Jan 24 Cash sales 660 99 50 90 9






Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000

Jan 10 Cash sales 654 110 60 100 10

Jan 12 Cash sales 655 66 30 60 6

Jan 14 Cash sales 656 132 70 120 12

Jan 14 Cash sales 657 110 60 100 10


Jan 20 Cash sales 659 154 70 140 14


Jan 24 Cash sales 660 99 50 90 9



Sundries – all “irregular”

transactions



Which items are recorded in the Sundries column?

All “ irregular” t ransactions – occur once or less per period

These transactions don’t need their own column

“Regular” t ransact ions have their own column – called a “Special Column”



Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST


Special Columns – record all

“regular” transactions

Sundries Column – record all

“irregular” transactions





Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000

Jan 10 Cash sales 654 110 60 100 10

Jan 12 Cash sales 655 66 30 60 6

Jan 14 Cash sales 656 132 70 120 12

Jan 14 Cash sales 657 110 60 100 10


Jan 20 Cash sales 659 154 70 140 14


Jan 24 Cash sales 660 99 50 90 9




Totals – the total of each column



The Bank column must equal the total of al l other columns (except

Cost of Sales)

Bank =Debtors

ControlSales Sundries GST



Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000


+ + +



Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000




Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000




Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000




Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000


6260 = 380 670 5143 67+ + +



Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000




Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000




Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000




Number

Bank Debtors

Control

Cost of

Sales

Sales Sundries GST

Jan 2 Cash sales 651 66 30 60 6


Jan 6 Capital 653 5000 5000




TASK

In-class Homework

SQ5 X

SQ6 X

SQ7 X

5.3 The Cash Receipts Journal

Education

Transcript of 5.3 The Cash Receipts Journal