Sage Learning Centers was established on July 20, 2016, to provide educational services. The services provided during the remainder of the month are as follows:

July 21.	Issued Invoice No. 1 to J. Dunlop for $115 on account.
July 22.	Issued Invoice No. 2 to K. Tisdale for $350 on account.
July 24.	Issued Invoice No. 3 to T. Quinn for $85 on account.
July 25.	Provided educational services, $300, to K. Tisdale in exchange for educational supplies.
July 27.	Issued Invoice No. 4 to F. Mintz for $225 on account.
July 30.	Issued Invoice No. 5 to D. Chase for $170 on account.
July 30.	Issued Invoice No. 6 to K. Tisdale for $120 on account.
July 31.	Issued Invoice No. 7 to T. Quinn for $105 on account.

1a. Journalize the transactions (in chronological order as it appears in the data) for July, using a single-column revenue journal. If an amount box does not require an entry, leave it blank.

REVENUE JOURNAL				PAGE 1
Date	Invoice No.	Account Debited	Post Ref.	Accts. Rec. Dr. Fees Earned Cr.
2016

1b. Journalize (including the date) and post the appropriate transaction for July in the two-column general journal. If an amount box does not require an entry, leave it blank. Posting references will be recorded in part 2.

JOURNAL				PAGE 1
Date	Description	Post Ref.	Debit	Credit
2016

1c. Post to the following customer accounts in the accounts receivable ledger, and insert the balance immediately after recording each entry: D. Chase; J. Dunlop; F. Mintz; T. Quinn; K. Tisdale.

For those boxes in which no entry is required, leave the box blank.

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
Date	Item	Post Ref.	Dr.	Cr.	Balance
Account: D. Chase
2016
Account: J. Dunlop
2016
Account: F. Mintz
2016
Account: T. Quinn
2016
Account: K. Tisdale
2016

2. Post the revenue journal and the general journal to the following accounts in the general ledger, inserting the account balances only after the last postings:

12	Accounts Receivable
13	Supplies
41	Fees Earned

For those boxes in which no entry is required, leave the box blank.

GENERAL LEDGER
					Balance
Date	Item	Post. Ref.	Dr.	Cr.	Dr.	Cr.
Account: Accounts Receivable #12
2016
Account: Supplies #13
2016
Account: Fees Earned #41
2016

3a. What is the sum of the balances of the customer accounts in the subsidiary ledger at July 31? $

3b. What is the balance of the accounts receivable controlling account at July 31? $

4. Assume Sage Learning Centers began using a computerized accounting system to record the sales transactions on August 1. All of the following are benefits of the computerized system over the manual system EXCEPT: