Chapter 5 HWRevenue and cash receipts journals; accounts receivable subsidiary and general ledgersTransactions related to revenue and cash receipts completed by Crowne Business Services Co. during the period April 2-30 are as follows:Apr. 2.Issued Invoice No. 793 to Ohr Co., $5,200.Apr. 5.Received cash from Mendez Co. for the balance owed on its account.Apr. 6,Issued Invoice No. 794 to Pinecrest Co, $1,870.Apr. 13.Issued Invoice No. 795 to Shilo Co., $2,790.Post revenue and collections to the accounts receivable subsidiary ledger.Apг. 15.Received cash from Pinecrest Co. for the balance owed on April 1.Apr. 16.Issued Invoice No. 796 to Pinecrest Co., $5,830.Post revenue and collections to the accounts receivable subsidiary ledger.<>Арг. 19.Received cash from Ohr Co. for the balance due on invoice of April 2.Apг. 20.Received cash from Pinecrest Co. for balance due on invoice of April 6.Apr. 22,Issued Invoice No. 797 to Mendez Co., $7,680.Apг. 25.Received $2,120 note receivable in partial settlement of the balance due on the Shilo Co. account.Apг. 30.Received cash from fees earned, $13,10o.Post revenue and collections to the accounts receivable subsidiary ledger.Required:1. Insert the following balances in the general ledger as of April 1:11 Cash$11,79012 Accounts Receivable14,36014 Notes Receivable6,25041 Fees EarnedAfter completing the recording of the transactions in the journals in part 3, total each of the columns of the special journals, and post theindividual entries and totals to the general ledger. Insert account balances after the last posting. When posting to the general ledger, post inchronological order. However, if there is more than one entry on the same date, be sure to post transactions from the revenue journal beforeposting transactions from the cash receipts journal.If an amount box does not require an entry, leave it blank. In CNOW, Journal pages begin with "J", Cash Receipts begin with "CR" and CashReceipts begins with "R". For example journal/ Cash Receipts/ Cash Receipts, page 1/36/40 respectively. POST. REF. is simply J1, CR36, andFLEXDraviousNext

General ledger states the system of record keeping which is maintained by company for its financial…

pts completed by Crowne Business Services Co. during the pe Apr. 2. Issued Invoice No, 793 to Ohr Co., $5,200. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Apr. 6. Issued Invoice No. 794 to Pinecrest Co., $1,870. Apr. 13. Issued Invoice No. 795 to Shilo Co., $2,790. Post revenue and collections to the accounts receivable subsidiary ledger. Apr. 15. Received cash from Pinecrest Co. for the balance owed on April 1. Apr. 16. Issued Invoice No. 796 to Pinecrest Co., $5,830. Post revenue and collections to the accounts receivable subsidiary ledger. Apr. 19. Received cash from Ohr Co. for the balance due on invoice of April 2. Apr. 20. Received cash from Pinecrest Co. for balance due on invoice of April 6. Apr. 22. Issued Invoice No. 797 to Mendez Co., $7,680.

pts completed by Crowne Business Services Co. during the pe Apr. 2. Issued Invoice No, 793 to Ohr Co., $5,200. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Apr. 6. Issued Invoice No. 794 to Pinecrest Co., $1,870. Apr. 13. Issued Invoice No. 795 to Shilo Co., $2,790. Post revenue and collections to the accounts receivable subsidiary ledger. Apr. 15. Received cash from Pinecrest Co. for the balance owed on April 1. Apr. 16. Issued Invoice No. 796 to Pinecrest Co., $5,830. Post revenue and collections to the accounts receivable subsidiary ledger. Apr. 19. Received cash from Ohr Co. for the balance due on invoice of April 2. Apr. 20. Received cash from Pinecrest Co. for balance due on invoice of April 6. Apr. 22. Issued Invoice No. 797 to Mendez Co., $7,680.

Accounting

27th Edition

ISBN:9781337272094

Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Chapter5: Accounting Systems

Section: Chapter Questions

Problem 5.8EX: Accounts receivable subsidiary ledger The revenue and cash receipts journals for Polaris Productions...

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