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In this video, we discuss the cash receipts journal, which tracks all cash inflows for a business. The tutorial provides an example of posting a transaction for a regular customer, John Henry, who pays $500 of his accounts receivable. The process begins with recording the date, followed by indicating the credited account, which is John Henry's individual accounts receivable. An explanation notes the invoice he is paying off. Since John is a valued customer, he receives a 10% discount of $50, recorded in the sales discount column. The cash debit column reflects $450, while the accounts receivable credit column shows the full $500 amount.