Posting a Revenue Journal

The revenue journal for Sapling Consulting Inc. follows. The accounts receivable controlling account has a July 1, 20Y2, balance of $730 consisting of an amount due from Aladdin Co. There were no collections during July.

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REVENUE JOURNAL	Page 12
Date	Invoice No.	Account Debited	Post. Ref.	Accounts Rec. Dr. Fees Earned Cr.
20Y2
July 4	355	Clearmark Co.		1,775
9	356	Life Star Inc.		2,925
18	357	Aladdin Co.		1,350
22	359	Clearmark Co.		2,400
31				8,450

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The T accounts for the accounts receivable customer accounts are set up below.

a&b. Post the transactions from the revenue journal to the customer accounts and determine their ending balances.

Aladdin Co.
July 1 Bal.July 4 Bal.July 9 Bal.July 22 Bal.July 31 Bal.	fill in the blank 9b0058015fe7fcd_2
July 4July 9July 18July 22July 31	fill in the blank 9b0058015fe7fcd_4
31 Bal.	fill in the blank 9b0058015fe7fcd_5

Clearmark Co.
July 1July 4 July 9July 18July 31	fill in the blank 9b0058015fe7fcd_7
July 1July 9July 18July 22July 31	fill in the blank 9b0058015fe7fcd_9
31 Bal.	fill in the blank 9b0058015fe7fcd_10

Life Star Inc.
July 1July 4July 9July 18July 22July 31	fill in the blank 9b0058015fe7fcd_12
31 Bal.	fill in the blank 9b0058015fe7fcd_13

c. Prepare T accounts for the accounts receivable and fees earned accounts. Post control totals to the two accounts, and determine the ending balances.

Accounts Receivable
July 1 Bal.July 4 Bal.July 9 Bal.July 18 Bal.July 22 Bal.	fill in the blank 9b0058015fe7fcd_15
July 4July 9July 18July 22July 31	fill in the blank 9b0058015fe7fcd_17
31 Bal.	fill in the blank 9b0058015fe7fcd_18

Fees Earned
		July 1July 4July 9July 18July 22July 31	fill in the blank 9b0058015fe7fcd_20
		31 Bal.	fill in the blank 9b0058015fe7fcd_21

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d. Prepare a schedule of the customer account balances to verify the equality of the sum of the customer account balances and the accounts receivable controlling account balance.

Aladdin Co.	$fill in the blank 75d5d6083020f8b_1
Clearmark Co.	fill in the blank 75d5d6083020f8b_2
Life Star Inc.	fill in the blank 75d5d6083020f8b_3
Total accounts receivable	$fill in the blank 75d5d6083020f8b_4

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e. All of the following are typical of a computerized system EXCEPT: