month of October 2014 are as follows:
Oct. 2. Issued Invoice No. 512 to Albany Co., $670.
4. Received cash from CMI Inc., on account, for $215.
8. Issued Invoice No. 513 to Gabriel Co., $275.
12. Issued Invoice No. 514 to Ells Inc., $840.
19. Received cash from Ells Inc., on account, $475.
22. Issued Invoice No. 515 to Electronic Central Inc., $150.
27. Received cash from Marshall Inc. for services provided, $145.
29. Received cash from Albany Co. for invoice of October 2.
31. Received cash from McCleary Co. for services provided, $90.
Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Use the following column headings for the cash receipts journal: Fees Earned Cr., Accounts Receivable Cr., and Cash Dr. Place a check mark () in the Post. Ref. column to indicate when the accounts receivable subsidiary ledger should be posted.
Answer:
REVENUE JOURNAL Page 8
Date
Invoice
No. Account Debited
Post.
Ref.
Accounts Rec. Dr.
Fees Earned Cr.
2014
Oct. 2 512 Albany Co. √ 670
8 513 Gabriel Co. √ 275
12 514 Ells Inc. √ 840
22 515 Electronic Central Inc. √ 150
31 1,935
CASH RECEIPTS JOURNAL Page 12
Date Account Credited Post.
Ref.
Fees Earned
Cr.
Accts.
Rec. Cr.
Cash
Dr.
2014
Oct. 4 CMI Inc. √ 215 215
19 Ells Inc. √ 475 475
27 Fees Earned 145 145
29 Albany Co. √ 670 670
31 Fees Earned 90 90
31 235 1,360 1,595