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., $7,680. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Apr. 6. Apr. 13. Issued Invoice No. 794 to Pinecrest Co., $2,770. Issued Invoice No. 795 to Shilo Co., $4,120. 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., $8,610. Post revenue and collections to the accounts receivable subsidiary ledger Apr. 19. Received cash from Ohr Co. for the balance due on invoice of April 2 Apr. 20. Received cash from Pinecrest Co. for balance due on invoice of April 6. Apr. 22. Issued Invoice No. 797 to Mendez Co., $11,340. Apr. 25. Received $3,130 note receivable in partial settlement of the balance due on the shite Co, account Apr 30. Received cash from fees earned, $19,350. Post revenue and collections to the accounts receivable subsidiary ledger Required: 1. Insert the following balances in the general ledger as of April eBook Show Me How Calculator Required: 1. Insert the following balances in the general ledger as of April 1: 11 Cash 12 Accounts Receivable 14 Notes Receivable $17,420 21,210 9,230 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 "", 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 1, CR36, and R40. GENERAL LEDGER Date Item Debit Credit Balance Dr. Balance CF Account: Cash + 11 Apr. 1 Balance 17,420 GENERAL LEDGER Date Item Post. Rel. Debit Credit Balance Dr. Balance Cri Account: Cash #11 (Apr. 1 Balance 17.420 Apr 30 CR36 Account: Accounts Receivable # 12 Apr. 1 Balance Apr. 25 Apr. 30 Apr. 30 CRO Account: Notes Receivable 14 Apr, 1 Balance Apr. 25 eBook Show Me How Calculator Apr. 1 Balance Apr. 25 Account: Fees Earned 41 Apr 30 R40 Apr. 30 CR36 2. Insert the following balances in the accounts receivable subsidiary ledger as of April 1: $12,190 Mendez Co. Ohr Co. Pinecrest Co. 9,020 Shilo Co. After completing the recording of the transactions in the journals in part 3, post to the accounts receivable subsidiary ledger in chronological order, 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. If an amount box does not require an entry, leave it blank. In CNOW, Journal pages begin with "", 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 11, CR36, and R40. ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER S how 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 at 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 require an entry, leave it blank. In CNOW, Journal pages begin with "y, 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 J1, CR36, and R40. ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER Item Post. Rel. Debit Credit Date Balance Account: Mendez Co. Apr. 1 Balance Apr. 5 Apr. 22 Account: Ohr Co. Apra Apr. 19 Account Pinecrest Co. Apr. 1 Apr. 2 BEES Ar 19 Account: Pinecrest Co. Apr. 1 Balance Apr. 6 Apr. 15 Apr. 16 Apr. 20 Account: Shilo Co. Apr 13 Apr 25 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 jou Fees Eamed Cr., Accounts Receivable Cr, and Cash Dr. The Fees Eamed 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 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 Eamed C, Accounts Receivable Cr., and Cash Dr. The Fees Eamed 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. Fees Earned Cr. Date Invoice No. Account Debited Post. Rel. Apr. 2 Ohr Co. Pinecrest co Shilo co Apr. 10 Pinecrest co. Mendez Co Snow Me How Calculator If an amount box does not require an entry, leave it blank. REVENUE JOURNAL PAGE 40 Date Invoice No. Account Debited Post. Ref. Accounts Rec. Dr. Fees Earned Cr. Apr 2 Ohr Co. Pince CO Apr 13 Shila Co. Pinocrast co. Apr. 22 Mendez Co. CASH RECEIPTS JOURNAL Account Credited Post. Rel. Fees Earned Cr. Accts. Rec. Cr. PAGE 36 Cash Dr. Date Apr.s Mendez co. Aor. 15 Pinecrest Previous Next > CASH RECEIPTS JOURNAL PAGE 36 Cash Dr. Date Account Credited Post. Ref. Fees Earned Cr. Accts. Rec. Cr. Apr.s Mendez Co. Apr 15 Pinecrest Co Apr 19 Ohr CO Apr. 20 Pinecrest Co Apr. 30 Fees Earned Apr 30 PAGEL JOURNAL Description Date Post, Rel. Debit Credit Apr. 25 Notes Receivable Accounts Receivable shillo co. eBook Show Me How Calculator Apr. 30 Fees Earned Apr. 30 JOURNAL Description PAGE 1 Credit Post. Ref. Debit Apr. 25 Notes Receivable Accounts Receivable Shila Co. 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? eBook Show Me How Calculator 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., $7,680. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Apr. 6. Issued Invoice No. 794 to Pinecrest Co., $2,770. Apr. 13. Issued Invoice No. 795 to Shilo Co., $4,120. 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., $8,610. Post revenue and collections to the accounts receivable subsidiary ledger. Apr. 19. Received cash from Ohr Co. for the balance due on involce of April 2. Apr. 20. Received cash from Pinecrest Co. for balance due on invoice of April 6. Apr. 22. Issued Invoice No. 797 to Mendez Co., $11,340. Apr. 25. Recelved $3,130 note receivable in partial settlement of the balance due on the Shilo Co. account. Apr. 30. Recelved cash from fees earned, $19,350. Post revenue and collections to the accounts receivable subsidiary ledger. Required: 1. Insert the following balances in the general ledger as of April 1: 1. Insert the following balances in the general ledger as of April 1: 11 Cash 12 Accounts Receivable 14 Notes Receivable 41 Fees Earned $17,420 21,210 9,230 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 ")", 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 J, CR36, and R40. GENERAL LEDGER Date Item Debit Credit Balance Dr. Balance Cr. Account: Cash #11 Balance 17.420 Apr. 1 Apr. 30 CR16 Apr. 1 Balance 17,420 Apr. 30 CR36 Account: Accounts Receivable # 12 Apr. 1 Balance Apr. 25 21 Apr. 30 R40 Apr. 30 CR36 Account: Notes Receivable # 14 Apr. 1 Balance Apr. 25 Account: Fees Earned # 41 Apr. 30 R40 Apr. 30 CR36 2. sert the following balances in the accounts receivable subsidiary ledger as of April 1: Mendez Co. $12,190 Ohr Co. Pinecrest Co. 9,020 Shilo Co. 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 at 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 require an entry, leave it blank. In CNOW, Journal pages begin with "), 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 J1, CR36, and R40. ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER Post. Rel. Debit Credit Balance Date Item Account: Mendez Co. Apr, 1 Balance Apr. 5 Apr. 22 Account: Ohr Co. Previous Next > Apr. 2 Apr 19 Account: Pinecrest Co. Apr. 1 Balance Apr. 6 Apr. 15 Apr 16 Apr. 20 Account: Shilo Co. Apr. 13 Apr. 25 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 Eamed 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 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 Date Invoice No. Account Debited Post. Ref. Accounts Rec. Dr. Fees Earned Cr. Apr. 2 Ohr Co. Pinecrest Co. Apr. 6 Apr 12 Shilo Co. Apr. 10 Pinecrest Co. Apr. 22 Mendez Co. Apr. 30 Date Account Credited Post. Ref. Fees Earned Cr. Accts. Rec. Cr. Cash Dr. Mendez Co. Apr. 15 Pinecrest Co. Apr. 19 Ohr Co. Apr. 20 Pinecrest Co. Apr. 30 Fees Earned Apr. 30 JOURNAL PAGE 1 Post. Ref. Credit Description Debit Date Apr Notes Receivable Accounts Receivable Shilo Co. JOURNAL Description Date Post. Ref. Debit PAGE 1 Credit Apr. Notes Receivable Accounts Receivable-Shilo Co. 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? n automated system onit postings to a controlling 7. Would an automated system omit postings to a controlling account as performed in step 5 for Accounts Receivable