Which of the following is NOT true about posting the cash receipts journal information at the end of the month? a. Total the amount columns, prove the total of debits equal to credits, and rule the columns. b. Post the individual amounts from the General Credit column to the appropriate general ledger accounts. c. Insert the date in the Date column and "CR" and the page number in the Posting Reference column of each ledger account. d. Post each column total except the General Credit column total to the general ledger accounts.

The Cash Receipts Journal

The statement that is NOT true about posting the cash receipts journal information at the end of the month is:

b.Post the individual amounts from the General Credit column to the appropriate general ledger accounts.

Explanation:

A company's cash receipts journal is one of the specialized journals.  It is exclusively used for recording only the cash inflows to the company during the period.  All the cash inflows are initially recorded in this journal, where the transactions are analyzed in columns.  At the end of the month, the reconciled totals from the amount columns are posted to the ledger.  The columns maintained in the cash receipts journal include the general debit column, sales discount debit column, accounts receivable, sales, other accounts, and cost of goods sold/inventory columns.

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