Activity 1.1 Cash Receipts Journal or Cash Payments Journal? 5 minutes
For each of the following transactions, indicate whether the amounts would be entered into
the Cash Receipts Journal or the Cash Payments Journal.
1. A cleaning company received cash from a customer for services provided
2. Owner of a business deposited capital contribution in the business bank account
3. Cheque cashed to buy office supplies
4. Cash received in the cash register from the day's sales
5. Service materials purchased by electronic funds transfer
6. Loan received from the bank
7. Salaries paid by Internet banking
8. Cheque received from a customer in payment of her account.​

Cash received journal would contain transactions where money was entering into the company. These include: capital contributions, cash sales and loans coming into the company.

The cash payments journal on the other hand, would show transactions where money left the company such as to pay for expenses such as salaries or to procure materials needed by the company.

Cash Receipts Journal

      1. A cleaning company received cash from a customer for services provided

     2. Owner of a business deposited capital contribution in the business bank account  

     4. Cash received in the cash register from the day's sales  

     6. Loan received from the bank  

     8. Cheque received from a customer in payment of her account.​

Cash Payments Journal

    3. Cheque cashed to buy office supplies

    5. Service materials purchased by electronic funds transfer

    7. Salaries paid by Internet banking

a. money supply  

have a good day