Final answer:
The completed cash receipts journal in the ACCT 360 SUA 10th edition is a financial record detailing all cash inflows, which includes things like sales and receivables. It includes dates, descriptions, reference numbers, and amounts for each transaction. The exact details can't be provided here, but a typical journal structure is described.
Step-by-step explanation:
The completed cash receipts journal for the ACCT 360 SUA 10th edition would typically include a record of all cash inflows or money received by the company during a specific period. This could encompass daily sales, receivables collections, interest income, and other cash receipts. Each entry in the journal usually includes the date, source of receipt, reference number, and amount of cash received, which is then posted to the appropriate accounts in the general ledger. As I do not have access to the specifics of the ACCT 360 SUA 10th edition assignment, I cannot provide the exact completed journal. However, organizations generally follow a similar structure in such accounting records.
The key columns in a cash receipts journal would typically include:
- Date of the transaction
- Description or source of the cash received
- Reference number
- Cash debit amount
- Sales discount (if applicable)
- Account credited (such as Accounts Receivable or Service Revenue)
- Other accounts affected (like Sales Tax Payable, for instance)
Errors in the cash receipts journal can affect the accuracy of financial reporting, hence it is vital for students and accounting professionals to exercise precision and care in documenting and reviewing these entries.