The revenue and cash receipts journals for Eclipse Productions Inc. are shown below. The accounts receivable control
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The revenue and cash receipts journals for Eclipse Productions Inc. are shown below. The accounts receivable control account has an April 1, 2010, balance of $4,710, consisting of an amount due from Best Studios Inc.Prepare the accounts receivable subsidiary ledger, and determine that the total agrees with the ending balance of the accounts receivable controlaccount.
Accounts ReceivableAccounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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REVENUE JOURNAL Page 16 Invoice No. Post. Ref. Accts. Rec. Dr. Fees Eamed Cr. Date Account Debited 2010 Apr. 6 14 Crown Broadcasting Co... Gold Coast Modia Inc. Crown Broadcasting Co.. 1,400 5,500 2,450 1,250 22 27 Best Studios Inc. ... 28 Alpha Communications Inc. 2,040 30 12,640 (12) (41) Page 36 CASH RECEIPTS JOURNAL Accts. Rec. Cr. Post. Ref. Fees Earned Cr. Cash Dr. Date Account Credited 2010 Apr. 6 4,710 3,200 1,400 Best Studios Inc. 4,710 Foes Earned. Crown Broadcasting Co.. Gold Coast Media Inc.. 11 3,200 1,400 5,500 18 28 30 5,500 3,200 11,610 14,810 (41) (12) (11) 1234t un
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Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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