Horizon Consulting Company had the following transactions during the month of October: Oct. 2. Issued Invoice No.

Question:

Horizon Consulting Company had the following transactions during the month of October:

Oct. 2. Issued Invoice No. 321 to Pryor Corp. for services rendered on account, $595.

3. Issued Invoice No. 322 to Armor Inc. for services rendered on account, $310.

14. Issued Invoice No. 323 to Pryor Corp. for services rendered on account, $205.

24. Issued Invoice No. 324 to Rose Co. for services rendered on account, $850.

29. Collected Invoice No. 321 from Pryor Corp.

a. Record the October revenue transactions for Horizon Consulting Company in 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 October?
c. What is the October 31 balance of the Pryor Corp. customer account assuming a zero balance on October 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...