"Revenue Journal Page 16
Date
Invoice
No. Account Debited
Post.
Ref.
Accts. Rec. Dr.
Fees Earned Cr.
2014
July 6 1 Franklin Broadcasting Co. . . . . . . . . . . . . . . . . . . . . . 1,750
14 2 Gold Coast Media Inc. . . . . . . . . . . . . . . . . . . . . . . . . 4,500
22 3 Franklin Broadcasting Co. . . . . . . . . . . . . . . . . . . . . . 2,200
27 4 Crowne Studios Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . 1,250
28 5 Amber Communications Inc. . . . . . . . . . . . . . . . . . . 3,940
31 13,640
(12) (41)
Cash Receipts Journal Page 36
Date Account Credited
Post.
Ref.
Fees
Earned Cr.
Accts. Rec.
Cr.
Cash
Dr.
2014
July 6 Crowne Studios Inc. . . . . . . . . . . . . . . . . . . . . . — 3,670 3,670
11 Fees Earned . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,200 3,200
18 Franklin Broadcasting Co. . . . . . . . . . . . . . . . . — 1,750 1,750
28 Gold Coast Media Inc. . . . . . . . . . . . . . . . . . . — 4,500 4,500
31 3,200 9,920 13,120
(41) (12) (11)
Prepare a listing of the accounts receivable customer balances and verify that the total agrees with the ending balance of the accounts receivable controlling account.
Answer:
FANTASY PRODUCTIONS INC.
Accounts Receivable Customer Balances
July 31, 2014
Amber Communications Inc. $3,940
Crowne Studios Inc. 1,250
Franklin Broadcasting Co. 2,200
Gold Coast Media Inc. 0
Total accounts receivable $7,390
Accounts Receivable
(Controlling)
Balance, July 1, 2014 $ 3,670
Total debits (from revenue journal) 13,640
Total credits (from cash receipts journal) (9,920)
Balance, July 31, 2014 $ 7,390