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Accounting (Text Only)

26th Edition
Carl Warren + 2 others
ISBN: 9781285743615

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Accounting (Text Only)

26th Edition
Carl Warren + 2 others
ISBN: 9781285743615
Textbook Problem
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Revenue journal

The following revenue transactions occurred during November:

Oct. 4. Issued Invoice No. 162 to Dawkins Co. for services provided on account, $320.

19. Issued Invoice No. 163 to City Electric Inc. for services provided on account, $245.

25. Issued Invoice No. 164 to Matthews Co. for services provided on account, $515.

Record these three transactions into the following revenue journal format:

Chapter 5, Problem 5.1APE, Revenue journal The following revenue transactions occurred during November: Oct. 4. Issued Invoice

To determine

Journal

A journal is a book of original entry where all journal entries are recorded on the date of their occurrence in a chronological order.

Revenue Journal

Revenue journal is a one form of special journal book, which records revenue on account.

To record: The transactions in the revenue journal.

Explanation

Invoice No. 162- Service provided on account for $320:

In this case, services are provided to D Co. for $320 on account, so recorded in the revenue journal.

Invoice No. 163- Service provided on account for $245:

In this case...

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