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Sunrise Coffee Shop, in an Effort to Streamline Its Accounting

Question 197

Essay

Sunrise Coffee Shop, in an effort to streamline its accounting system, has decided to utilize a cash receipts journal. Record the following transactions for the first two weeks in March, total the columns, and include the posting references. A partial chart of accounts is given below. After recording the transactions, indicate if there are any additional columns you would add to this journal.?  Cash Receipts Journal  Date  Account  Credited  Post.  Ref.  Other  Accounts  Cr.  Beverage  Revenue  Cr.  Food  Revenue  Cr.  Cash  Cr. \textbf { Cash Receipts Journal }\\\begin{array}{|c|c|c|c|c|c|c|}\hline \text { Date } & \begin{array}{c}\text { Account } \\\text { Credited }\end{array} & \begin{array}{c}\text { Post. } \\\text { Ref. }\end{array} & \begin{array}{c}\text { Other } \\\text { Accounts } \\\text { Cr. }\end{array} & \begin{array}{c}\text { Beverage } \\\text { Revenue } \\\text { Cr. }\end{array} & \begin{array}{c}\text { Food } \\\text { Revenue } \\\text { Cr. }\end{array} & \begin{array}{c}\text { Cash } \\\text { Cr. }\end{array} \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline & & & & & & \\\hline\end{array} Mar.
1Cash received for beverages, $375.
1Cash received for food, $250.
1Cash received for customer sales of Sunrise's signature coffee mugs, $130.
7Cash received for beverages, $480.
7Cash received for food, $325.
7Cash received for customer sales of Sunrise's signature coffee mugs, $115.
10Cash received on account from Central.com, $900.                         ~~~~~~~~~~~~~~~~~~~~~~~~ Chart of Accounts (Partial)
10 Cash 41 Beverage Revenue 12 Accounts Receivable 42 Food Revenue 15 Retail Items 43 Retail Revenue \begin{array}{ll}\hline10 \text { Cash } & 41 \text { Beverage Revenue } \\12 \text { Accounts Receivable } & 42 \text { Food Revenue } \\15 \text { Retail Items } & 43 \text { Retail Revenue }\end{array}

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