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18:51
How to Record and Post Cash Receipts in Accoun
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Cash receipts are the money that a business receives from its customers or other sources. They are recorded in a special journal called the cash receipts journal (CRJ), which summarizes the transactions and shows the total amount of cash received. The CRJ is then used to update the general ledger, which is the main book of accounts that records all the changes in assets, liabilities, equity, revenues, and expenses. In this video list, you will learn how to prepare a CRJ, how to post from journals to general ledgers, and how to use T-accounts to track balances.
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