Global Services Company had the following transactions during the month of August: Aug. 2. Issued Invoice No.

Question:

Global Services Company had the following transactions during the month of August:
Aug. 2. Issued Invoice No. 321 to Morgan Corp. for services rendered on account, $425.
3. Issued Invoice No. 322 to Mid States Inc. for services rendered on account, $260.
14. Issued Invoice No. 323 to Morgan Corp. for services rendered on account, $350.
22. Issued Invoice No. 324 to Rose Co. for services rendered on account, $690.
28. Collected Invoice No. 321 from Morgan Corp.
a. Record the August revenue transactions for Global Services Company into the following revenue journal format:

b. What is the total amount posted to the accounts receivable and fees earned accounts from the revenue journal for August?
c. What is the August 31 balance of the Morgan Corp. customer account assuming a zero balance on August 1?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...