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Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and cash receipts completed by Crowne Business Services Co .
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 are as follows:
Apr. Issued Invoice No to Ohr Co $
Apr. Received cash from Mendez Co for the balance owed on its account.
Apr. Issued Invoice No to Pinecrest Co $
Apr. Issued Invoice No to Shilo Co $
Post revenue and collections to the accounts receivable subsidiary ledger.
Apr. Received cash from Pinecrest Co for the balance owed on April
Apr. Issued Invoice No to Pinecrest Co $
Post revenue and collections to the accounts receivable subsidiary ledger.
Apr. Received cash from Ohr Co for the balance due on invoice of April
Apr. Received cash from Pinecrest Co for balance due on invoice of April
Apr. Issued Invoice No to Mendez Co $
Apr. Received $ note receivable in partial settlement of the balance due on the Shilo Co account.
Apr. Received cash from fees earned, $
Post revenue and collections to the accounts receivable subsidiary ledger.
Required:
Insert the following balances in the general ledger as of April :
Cash $
Accounts Receivable
Notes Receivable
Fees Earned
After completing the recording of the transactions in the journals in part 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 respectively. POST. REF. is simply J CR and R
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