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Accounting At Your Fingertips, 2e by George Murray, CPA.

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10.2 Closing Cash Journals

Cash Receipts and Sales

Cash Disbursements and Purchases

This subchapter focuses on closing the books and making sure all activity is properly summarized and posted. We discuss sending monthly statements, paying bills, and recording credit card costs. In addition, you learn how to close cash journals, post to the general ledger, and reconcile account totals with supporting data.

Cash Receipts and Sales

The totals from your cash receipts and sales journal need to be reconciled and posted to the general ledger at the end of the month. But before you get to that point, you need to perform other bookkeeping duties first.

Generating Monthly Statements

Although it’s not required, it’s good business practice to compile a ...

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