Warwick Company has the following information concerning its direct labor:
Definitions:
Cash Receipts Journal
A specialized accounting journal used to keep track of all cash inflows or receipts from various sources.
Entry
A record in an account that documents a financial transaction in bookkeeping.
Special Journals
Customized accounting journals used for recording specific types of transactions that occur frequently.
General Journal
A primary accounting record where all types of financial transactions are initially recorded in chronological order before being posted to specific accounts in the general ledger.
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