Horizon Consulting Company had the following transactions during the month of October: Oct. 2. Issued Invoice No. 321 to Pryor Corp. for services rendered on account, $595. 3. Issued Invoice No. 322 to Armor Inc. for services rendered on account, $310. 14. Issued Invoice No. 323 to Pryor Corp. for services rendered on account, $205. 24. Issued Invoice No. 324 to Rose Co. for services rendered on account, $850. 29. Collected Invoice No. 321 from Pryor Corp. a. Record the October revenue transactions for Horizon Consulting Company in the following revenue journal format: REVENUE JOURNAL Invoice Post. Ref. Accts. Rec. Dr. Fees Earned Cr. Date No. Account Debited b. What is the total amount posted to the accounts receivable and fees earned accounts from the revenue journal for October? c. What is the October 31 balance of the Pryor Corp. customer account assuming a zero balance on October 1?
Horizon Consulting Company had the following transactions during the month of October: Oct. 2. Issued Invoice No. 321 to Pryor Corp. for services rendered on account, $595. 3. Issued Invoice No. 322 to Armor Inc. for services rendered on account, $310. 14. Issued Invoice No. 323 to Pryor Corp. for services rendered on account, $205. 24. Issued Invoice No. 324 to Rose Co. for services rendered on account, $850. 29. Collected Invoice No. 321 from Pryor Corp. a. Record the October revenue transactions for Horizon Consulting Company in the following revenue journal format: REVENUE JOURNAL Invoice Post. Ref. Accts. Rec. Dr. Fees Earned Cr. Date No. Account Debited b. What is the total amount posted to the accounts receivable and fees earned accounts from the revenue journal for October? c. What is the October 31 balance of the Pryor Corp. customer account assuming a zero balance on October 1?
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting Systems
Section: Chapter Questions
Problem 6E: Horizon Consulting Company had the following transactions during the month of October: a. Record the...
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