Revenue and cash receipts journals; 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 follows: Apr. 2. Issued Invoice No. 793 to Ohr Co., $4,590. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Issued Invoice No. 794 to Pinecrest Co., $1,650. Apr. 6. Apr. 13. Issued Invoice No. 795 to Shilo Co., $2,460. Post revenue and collections to the accounts receivable subsidiary ledger. Apr. 15. Received cash from Pinecrest Co. for the balance owed on April 1. Apr. 16. Issued Invoice No. 796 to Pinecrest Co., $5,140. Apr. 19. Apr. 20.1 Apr. 22. Apr. 25. Apr. 30.1 Post revenue and collections to the accounts receivable subsidiary ledger. Received cash from Ohr Co. for the balance due on invoice of April 2. Received cash from Pinecrest Co. for balance due on invoice of April 6. Issued Invoice No. 797 to Mendez Co., $6,770. Received $1,870 note receivable in partial settlement of the balance due on the Shilo Co. account. Received cash from fees earned, $11,560. Post revenue and collections to the accounts receivable subsidiary ledger. Required: 1. Insert the following balances in the general ledger as of April 1: 11 Cash 12 Accounts Receivable 14 Notes Receivable $10,170 12,390 5,390 41 Fees Earned After completing the recording of the transactions in the journals in part 3, total each of the columns of the special journals, and post the individual entries and totals to the general ledger. Insert account balances after the last posting. When posting to the general ledger, post in chronological order. However, if there is more than one entry on the same date, be sure to post transactions from the revenue journal before posting transactions from the cash receipts journal. 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 Revenue Journal begins with "R". For example Journal/ Cash Receipts/ Revenue Journal, page 1/36/40 respectely. POST. REF. is simply 31, CR36, and R40. Date Account: Cash #11 Apr. 1 Apr. 30 GENERAL LEDGER Item Post. Ref. Debit Credit Balance Dr. Balance Cr. Balance 10,170 CR36 Account: Accounts Receivable # 12 Account: Accounts Receivable #12 Apr. 1 Balance Account: Notes Receivable #14 Apr. 1 Balance Account: Fees Earned #41 3333 3333 2. Insert the following balances in the accounts receivable subsidiary ledger as of April 1: Mendez Co. Ohr Co. Pinecrest Co. Shilo Co. $7,120 5,270 After completing the recording of the transactions in the journals in part 3, post to the accounts receivable subsidiary ledger in chronological order, and insert the balances fter completing the recording of the transactions in the journals in part 3, post to the accounts receivable subsidiary ledger in chronological order, and insert the balances the points indicated in the narrative of transactions. Determine the balance in the customer's account before recording a cash receipt. If an amount box does not equire an entry, leave it blank. In CNOW, Journal pages begin with "J", Cash Receipts begin with "CR" and Revenue Journal begins with "R". For example Journal/ Cash eceipts/ Revenue Journal, page 1/36/40 respectively. POST, REF. is simply J1, CR36, and R40. ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER Date Item Post. Ref. Debit Account: Mendez Co. Apr. 1 Account: Ohr Co. Account: Pinecrest Co. Apr. 1 Balance Balance Credit Balance 888 333 BBE DJ Account: Shilo Co. = 333 3. Prepare a single-column revenue journal (p. 40) and a cash receipts journal (p. 36). Use the following column headings for the cash receipts journal: Fees Earned Cr Accounts Receivable Cr., and Cash Dr. The Fees Earned column is used to record cash fees. 4. Using the two special journals and the two-column general journal (p. 1), journalize the transactions for April. Post to the accounts receivable subsidiary ledger, and insert the balances at the points indicated in the narrative of transactions. Determine the balance in the customer's account before recording a cash receipt. 5. Total each of the columns of the special journals and post the individual entries and totals to the general ledger. Insert account balances after the last posting. If an amount box does not require an entry, leave it blank. REVENUE JOURNAL PAGE 40 Accounts Rec. Dr. Date Invoice No. Account Debited Post. Ref. Fees Earned Cr. CASH RECEIPTS JOURNAL PAGE 36 Post. Fees Earned Date Account Credited Accts. Rec. Cr. Cash Dr. Ref. Cr. Date JOURNAL 6. What is the sum of the customer balances? Description Post. Ref. Debit PAGE 1 Credit = 33 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 part (5) for Accounts Receivable