The revenue journal and cash receipts journal for Polaris Productions Inc. follow. The accounts receivable control account has a January 1, 20Y4, balance of $7,390, consisting of an amount due from Clear Pointe Studios Inc. REVENUE JOURNAL Accounts Rec. Dr. Invoice No. Date Account Debited Post Ref. Fees Earned Cr. 20Y4 Echo Broadcasting Co. 2,200 Jan. 6 Gold Coast Media Inc. Jan. 14 8,650 Echo Broadcasting Co. 3,850 Jan. 22 Clear Pointe Studios Inc 1,960 Jan. 25 4 Jan. 29 Amber Communications Inc. 3,210 Jan, 31 19,870 (12)(41) CASH RECEIPTS JOURNAL Accounts Rec. Cr. Post Ref. Account Credited Cash Dr. Date Fees Earned Cr. 20Y4 7,390 Jan. 6 Clear Pointe Studios Inc. 7,390 5,040 Jan. 11 Fees Earned 5,040 Echo Broadcasting Co. Jan. 18 2,200 2,200 Jan. 28 Gold Coast Media Inc. 8,650 8,650 2,200 Jan. 18 Echo Broadcasting Co. 2,200 Jan. 28 Gold Coast Media Inc. 8,650 8,650 23,280 5,040 18,240 Jan. 31 (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. If an amount is zero, enter "0". Polaris Productions Inc. Accounts Receivable Customer Balances January 31, 20Y4 Amber Communications Inc. Clear Pointe Studios Inc. Echo Broadcasting Co. Gold Coast Media Inc. Total accounts receivable Polaris Productions Inc. Accounts Receivable (Controlling) Balance, January 1, 20Y4 Total debits (from revenue journal) Total credits (from cash receipts journal) Balance, January 31, 20Y4
The revenue journal and cash receipts journal for Polaris Productions Inc. follow. The accounts receivable control account has a January 1, 20Y4, balance of $7,390, consisting of an amount due from Clear Pointe Studios Inc. REVENUE JOURNAL Accounts Rec. Dr. Invoice No. Date Account Debited Post Ref. Fees Earned Cr. 20Y4 Echo Broadcasting Co. 2,200 Jan. 6 Gold Coast Media Inc. Jan. 14 8,650 Echo Broadcasting Co. 3,850 Jan. 22 Clear Pointe Studios Inc 1,960 Jan. 25 4 Jan. 29 Amber Communications Inc. 3,210 Jan, 31 19,870 (12)(41) CASH RECEIPTS JOURNAL Accounts Rec. Cr. Post Ref. Account Credited Cash Dr. Date Fees Earned Cr. 20Y4 7,390 Jan. 6 Clear Pointe Studios Inc. 7,390 5,040 Jan. 11 Fees Earned 5,040 Echo Broadcasting Co. Jan. 18 2,200 2,200 Jan. 28 Gold Coast Media Inc. 8,650 8,650 2,200 Jan. 18 Echo Broadcasting Co. 2,200 Jan. 28 Gold Coast Media Inc. 8,650 8,650 23,280 5,040 18,240 Jan. 31 (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. If an amount is zero, enter "0". Polaris Productions Inc. Accounts Receivable Customer Balances January 31, 20Y4 Amber Communications Inc. Clear Pointe Studios Inc. Echo Broadcasting Co. Gold Coast Media Inc. Total accounts receivable Polaris Productions Inc. Accounts Receivable (Controlling) Balance, January 1, 20Y4 Total debits (from revenue journal) Total credits (from cash receipts journal) Balance, January 31, 20Y4
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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