This accounting problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.
ScanSolve AI Answer
Right Ona💘💘💋💞, let's go. Step 1: Record the transactions in the Cash Receipts Journal. Please note that February 2023 has 28 days, so the transaction dated "30 February 2023" has been recorded on 28 February 2023. |c|c|l|c|c|c|c|c|c|l| Doc & Day & Details & Fol. & Analysis of receipts & Bank & Current income & 3c|Sundry accounts \\ 8-10 & & & & & & & Amount & Fol. & Details \\ 46 & 1 & Capital (G. Gantry) & & R130 000 & R130 000 & & R130 000 & & Capital \\ & 14 & Hair styling services & & R600 & R600 & R600 & & & \\ 47 & 14 & Rental Income (A. Kango) & & R350 & R350 & & R350 & & Rental Income \\ & 28 & Hair cutting services & & R1960 & R1960 & R1960 & & & \\ Step 2: Close off Cash Receipt Journal at the end of the month. To close off the journal, we sum the amounts in each column. Analysis of receipts: $R130\,000 + R600 + R350 + R1960 = R132\,9