Question

Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and cash receipts completed by Crowne Business Services Co. during the period April 2-30 are as follows: Apr. 2. Issued Invoice No. 793 to Ohr Co., $4,680. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Apr. 6. Issued Invoice No. 794 to Pinecrest Co., $1,990. Apr. 13. Issued Invoice No. 795 to Shilo Co., $3,450. Post revenue and collections to the accounts receivable subsidiary ledger, Apr. 15. Received cash from Pinecrest Co. for the balance owed on April 1. Apr. 16. Issued Invoice No. 796 to Pinecrest Co., $5,500. Post revenue and collections to the accounts receivable subsidiary ledger. Apr. 19. Received cash from Ohr Co. for the balance due on invoice of April 2. Apr. 20. Received cash from Pinecrest Co. for balance due on invoice of April 6. Issued Invoice No. 797 to Mendez Co., $7,470. Apr. 22. Apr. 25. Apr. 30. Received $3,200 note receivable in partial settlement of the balance due on the Shilo Co. account. Received cash from fees earned, $12,890. Post revenue and collections to the accounts receivable subsidiary ledger,

Answer 1

Crowne Business Service Co.
1&5)			Cash A/c		Account No.-11
					Balance
Date	Item	Ref No.	Debit	Credit	Debit	Credit
1-Apr	Balance				$                11,350.00
30-Apr			$                    12,890.00		$                24,240.00
			Accounts receivable		Account No.-12
					Balance
Date	Item	Ref No.	Debit	Credit	Debit	Credit
1-Apr	Balance				$                14,830.00
25-Apr				$                                3,200.00	$                11,630.00
30-Apr		R40	$                    23,090.00		$                34,720.00
30-Apr		CR36		$                              21,500.00	$                13,220.00
			Notes Receivable		Account No.-14
					Balance
Date	Item	Ref No.	Debit	Credit	Debit	Credit
1-Apr	Balance				$                   6,000.00
25-Apr			$                       3,200.00		$                   9,200.00
			Fees Earned		Account No.41
					Balance
Date	Item	Ref No.	Debit	Credit	Debit	Credit
30-Apr	Balance			$                              23,090.00	$                23,090.00
30-Apr				$                              12,890.00	$                35,980.00
Journal
Date	General,Journal	Debit	Credit
25-Apr	Notes Receivable	$                3,200.00
	To Shilo Co.		$                       3,200.00
	(Being Notes Received from Shilo co. for partial settlement)
Accounts receivable Subsidiary Ledger
2&4)		Mendez Co.			Balance
Date	Item	Ref No.	Debit	Credit	Debit	Credit
1-Apr	Balance				$                   8,710.00
5-Apr		CR36		$                                8,710.00
22-Apr		R40	$                       7,470.00		$                   7,470.00
		Ohr Co.			Balance
Date	Item	Ref No.	Debit	Credit	Debit	Credit
2-Apr	Balance	R40	$                       4,680.00		$                   4,680.00
19-Apr		CR36		$                                4,680.00
		Pinecrest Co.			Balance
Date	Item	Ref No.	Debit	Credit	Debit	Credit
1-Apr	Balance				$                   6,120.00
6-Apr		R40	$                       1,990.00		$                   8,110.00
15-Apr		CR36		$                                6,120.00	$                   1,990.00
16-Apr		R40	$                       5,500.00		$                   7,490.00
20-Apr		CR36		$                                1,990.00	$                   5,500.00
		Shilo Co.			Balance
Date	Item	Ref No.	Debit	Credit	Debit	Credit
13-Apr	Balance	R40	$                       3,450.00		$                   3,450.00
25-Apr		CR36		$                                3,200.00	$                      250.00
3,4& 5)		Revenue Journal
Date	Invoice No.	Account Debited	Post Ref	Account Received (DR) and Fess Earned (CR)
2-Apr	793	Mendez Co.		$                                4,680.00
6-Apr	794	Ohr Co.		$                                1,990.00
13-Apr	795	Pinecrest Co.		$                                3,450.00
16-Apr	796	Shilo Co.		$                                5,500.00
22-Apr	797			$                                7,470.00
30-Apr				$                              23,090.00
		Cash Receipt Journal
Date	Account Credited	Post Ref	Fees Earned(CR)	Account Receipts (Cr)	Cash (Dr)
5-Apr	Mendez Co.			$                                8,710.00	$                   8,710.00
15-Apr	Pinecest Co.			$                                6,120.00	$                   6,120.00
19-Apr	Ohr co.			$                                4,680.00	$                   4,680.00
20-Apr	Pinecest Co.			$                                1,990.00	$                   1,990.00
30-Apr	Fees Earned		$                    12,890.00		$                12,890.00
30-Apr			$                    12,890.00	$                              21,500.00	$                34,390.00
6)	*The sum of customer balance in an agreement with the controlling account.Both have a balance of $13220($7470+$5500+$250)*
7)	**In an automated system individual transactions are automaticallyposted to the general ledger at the time of original entry.**