Gain all the in-depth knowledge of the steps of the accounting cycle which include transactions. source documents, journals, general ledger, trial balance and financial statements.
Up Next in Term 2
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Cash journals
We are tackling your understanding of the cash journals of a service business. Cash journals are necessary so we can accurately record information that we see on the cash documents into the records of the business.
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Entering the cash transactions in the...
Cash Receipts Journals summaries all business receipts and cash slips issued. We look at the terms that identify whether a transaction needs to be recorded in the CRJ.
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The effect of CRJ transactions on th...
Cash receipt journal transactions affect the accounting equation in various ways such as cash that comes in as capital to increase owner's equity and receiving income from rendering services.
