The revenue and cash receipts journals for Polaris Productions Inc. follow. The accounts receivable control account has a January 1, 20Y4, balance of $3,790 consisting of an amount due from Clear Pointe Studios Inc. Page 16 REVENUE JOURNAL Accts. Rec. Dr. Fees Earned Cr. Invoice Post. Date No. Account Debited Ref. 20Y4 Echo Broadcasting Co.... Jan. 6 2,300 Gold Coast Media Inc.. 5,100 14 Echo Broadcasting Co.. Clear Pointe Studios Inc. .. 22 3 2,980 25 4 1,650 Amber Communications Inc. 29 3,650 15,680 31 (12) (41) CASH RECEIPTS JOURNAL Page 36 Accts. Rec. Cr. Cash Post. Fees Date Account Credited Ref. Earned Cr. Dr. 20Y4 6 Clear Pointe Studios Inc. 11 Fees Earned.. Jan. 3,790 3,790 3,200 3,200 18 Echo Broadcasting Co. 2,300 2,300 28 Gold Coast Media Inc. 5,100 5,100 3,200 31 11,190 14,390 (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.
The revenue and cash receipts journals for Polaris Productions Inc. follow. The accounts receivable control account has a January 1, 20Y4, balance of $3,790 consisting of an amount due from Clear Pointe Studios Inc. Page 16 REVENUE JOURNAL Accts. Rec. Dr. Fees Earned Cr. Invoice Post. Date No. Account Debited Ref. 20Y4 Echo Broadcasting Co.... Jan. 6 2,300 Gold Coast Media Inc.. 5,100 14 Echo Broadcasting Co.. Clear Pointe Studios Inc. .. 22 3 2,980 25 4 1,650 Amber Communications Inc. 29 3,650 15,680 31 (12) (41) CASH RECEIPTS JOURNAL Page 36 Accts. Rec. Cr. Cash Post. Fees Date Account Credited Ref. Earned Cr. Dr. 20Y4 6 Clear Pointe Studios Inc. 11 Fees Earned.. Jan. 3,790 3,790 3,200 3,200 18 Echo Broadcasting Co. 2,300 2,300 28 Gold Coast Media Inc. 5,100 5,100 3,200 31 11,190 14,390 (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.
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 8E
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