The second entry records the customer

The second entry records the customer - Smith's account is...

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The second entry records the customer's payment by debiting cash and crediting accounts  receivable. Most companies record cash receipts in a cash receipts journal. Since a special journal's  column totals are posted to the general ledger at the end of each accounting period, the posting to J. 
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Unformatted text preview: Smith's account is the only one shown with the cash receipts journal entry in the illustration below....
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