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chapter 5 hw Account: Mendez Co. Account: Ohr Co (5) Account: Pinecrest Co. Aor. 1 Balance Account: shilo Co 1. Insert the following balances in
chapter 5 hw
Account: Mendez Co. Account: Ohr Co (5) Account: Pinecrest Co. Aor. 1 Balance Account: shilo Co 1. Insert the following balances in the general ledger as of Agrli 1 : After campleting the recording of the transactions in the journals in part 3, total each of the columns of the special joumals, and post the individual entries and tutals to the general iedger. Insert account balances after the last posting. When posting to the general ledges, post in chronological order. Howtval, it there is more than one enter on the same date, be sure to post transactions from the revenve journal before posting transactions from the cash receipts journal. example journaV Cash Receipts/ Cain Receipts, page 1/36/40 respectively. DOST, REF, is simply 21, CR36, and R40: Accounts Recivibile C, and Cash Dr. The Fees Earned column is used to record canst fees: 4. Using the two special journals and the two-column general journal (p. 1), Joumalze the transactions for Aoril, Post to the accounts receivable subsidiary ledger, and insert the balances at the points indicated in the narrative of transattions. Determine the balance in the custamer's account before recording a cash receipt. 5. Total each of the columns of the special joumbls and post the individual entres and totals to the general ledger. Incert account balances after the fast posxing. If an amount box does not require an entry, leave it blank. 2. Insert the following balances in the accounts receivable subsidiary ledger as of Apnil 1: After completing the recording of the transactions in the journais in part 3, post to the accounts receivable subsidiary ledger in chronological order, and insert the batances at the points indicated in the narrative of transactions. Determine the balance in the customer's account before fecording a cash recelpt. if an amount box does not require an entry, leave it blank, In CNOW, Journal pages begin with "J"; Cash Receipts begin with "CR" and Cash Receipts begins with "R", For example Journal/ Cash Receipts/ Cash Receipts, page 1/36/40 respectively. POST, REF, is simply 31, CR36, and R40. 6. What is the sum of the customer balances? Does the sum of the customer balances agree with the accounts receivable controlling account in the general ledger? 7. Would an automated system omit postings to a controlling account as performed in step 5 for Accounts Receivable? Revenue and cash recelpts joumals; accounts receivable subsidiary and general ledgers Transactions related to revenue and cash receipts completed by Crowne Business Services Co, during the period April 2 -30 are as foliows: Apr. 2 Issued Involce No. 793 to Ohr Co., $4,820. Ase. 5. Recelved cash from Mender Co. for the balance owed on its account. Apr, 6. Issued Invoice No. 794 to Pinecrest Co0$1,730 Apr. 13. Issued Invoice No, 795 to shilo Co, $2.580. Post revenue and coliections to the acceunts receivable subsidiary ledger. Apr. 15. Received cash from Pinecrest Co. for the balance owed on April 1. Apr. 16. Issued Involce No: 796 to Pinecrest Co, $5,400. Post revenue and collections to the accounes receivable subsidiary ledger Apr. 19. Received cash from Ohr Co. for the balance due on imvolce of April 2. Apr. 20. Received cash from Pinecrest Co, for balance due on involce of April 6. Apr. 22. Issued Involce No, 797 to Mendez Co, 57,110 . Apr 25. Received 51,970 note recelvable in partial settiement of the balance out on the Shilo Co, account. Apr. 30, Received cash from fees earned, $12,130. fost revenue and collections to che accounts recemable subsidiaryedger. Required: 1. Insert the following balances in the general ledger as of April it Step by Step Solution
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