Question

Revenue and Cash Receipts Journals Transactions related to revenue and cash receipts completed by Sycamore Inc. during the month of March 20Y8 are as follows: Mar. 2. Issued Invoice No. 512 to Santorini Co., $1,045. Mar. 4. Received cash from CMI Inc., on account, for $260. Mar. 8. Issued Invoice No. 513 to Gabriel Co., $365. Mar. 12. Issued Invoice No. 514 to Yarnell Inc., $920. Mar. 19. Received cash from Yarnell Inc., on account, $700. Mar. 20. Issued Invoice No. 515 to Electronic Central Inc., $200. Mar. 28. Received cash from Marshall Inc. for services provided, $145. Mar. 29. Received cash from Santorini Co. for Invoice No. 512 of March 2. Mar. 31. Received cash from McCleary Co. for services provided, $85. Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Enter the transactions in chronological order. REVENUE JOURNAL PAGE 8 Accounts Rec. Dr. Fees Earned Cr. Invoice No. Account Debited Post. Ref. DATE 20Y8 Total If an amount box does not require an entry, leave it blank.

Answer 1

Revenue Journal Date Invoice No. Account Debited Post. Ref. Accounts Rec. Dr. Fees Earned Cr. 2018 Mar. 2 1,045 Mar. 8 365 Accounts receivable- 512 Santorini Co. Accounts receivable- 513 Gabriel Co. Accounts receivable- 514 Yarnell Inc. Accounts receivable- 515 Electronic Central Inc. Total Mar. 12 920 200 Mar. 20 Mar. 31 2,530 Cash Receipts Journal Post. Ref. Fees Earned Cr. Accounts Rec. Cr. Cash Dr. 260 260 Date Account Credited 2048 Accounts receivable- Mar.4 CMI. Inc. Accounts receivable- Mar. 19 Yarnell Inc. Mar. 28 Fees earned Accounts receivable- Mar. 29 Santorini Co. Mar. 31 Fees earned Mar. 31 700 700 145 1,045 1,045 85 85 230 Total 2,005 2,235