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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 April:

Apr.6. Issued Invoice No. 78 to Lemon Co. for services provided on account, $1,240.
11. Issued Invoice No. 79 to Hitchcock Inc. for services provided on account, $2,570.
19. Issued Invoice No. 80 to Fletcher Inc. for services provided on account, $990.

Record these three transactions in the following revenue journal format:

REVENUE JOURNAL
  Invoice   Post. Accts. Rec. Dr.
Date No. Account Debited Ref. Fees Earned Cr.

To determine

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

To record: The transactions in the revenue journal.

Explanation

Invoice No. 78- Service provided on account for $1,240.

In this case, services are provided to C Enterprises for $1,240 on account, so recorded in the revenue journal.

Invoice No. 79- Service provided on account for $2,570...

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