Question

Revenue Journal

The following revenue transactions occurred during November:

Nov.	3.		Issued Invoice No. 80 to Lemon Co. for services provided on account, $398.
	12.		Issued Invoice No. 81 to Triple A Inc. for services provided on account, $254.
	28.		Issued Invoice No. 82 to Murphy Inc. for services provided on account, $623.

Record these three transactions in the following revenue journal.

REVENUE JOURNAL
DATE	Invoice No.	Account Debited	Post. Ref.	Accounts Rec. Dr. Fees Earned Cr.
Nov. 3
Nov. 12
Nov. 28

Accounts Receivable Subsidiary Ledger

The debits and credits from two transactions are presented in the following customer account:

NAME	Pop-Up Dessert Snacks Inc.
ADDRESS	46 W. Main St.
Date	Item	Post. Ref.	Debit	Credit	Balance
Aug. 1	Balance	✔			574
Aug. 10	Invoice No. 30	CR37		107	467
Aug. 17	Invoice No. 33	R16	133		600

Select the choice that describes each transaction and the source of each posting.

Date		Action	Invoice No.	Posted From	Journal page
Aug. 10
Aug. 17

Purchases Journal

The following purchase transactions occurred during August for Rehoboth, Inc.:

Aug. 4		Purchased cleaning supplies for $79, on account from Innovation Supplies.
19		Purchased office equipment for $5,660, on account from Office Warehouse.
23		Purchased cleaning supplies for $224, on account from Rubble Supplies.

Record these transactions (in chronological order) in the following purchases journal. If an amount box does not require an entry, leave it blank. If no entry is required, select "No entry required".

PURCHASES JOURNAL
DATE	Account Credited	Post. Ref.	Accounts Payable Cr.	Cleaning Supplies Dr.	Other Accounts Dr.	Post. Ref.	Amount
Aug. 4
Aug. 19
Aug. 23

Accounts Payable Subsidiary Ledger

The debits and credits from two transactions are presented in the following creditor's (supplier's) account:

NAME	Lassiter Services Inc.
ADDRESS	2199 Commerce Place
Date	Item	Post. Ref.	Debit	Credit	Balance
Nov. 1	Balance				497
Nov. 11	Invoice No. 217	CP98	217		280
Nov. 22	Invoice No. 207	P33		92	372

Select the choice that describes each transaction and the source of each posting.

Date		Action	Invoice No.	Posted From	Journal Page
Nov. 11
Nov. 22

Answer 1

Answer:

Answer-1: Revenue Journal: Date Invoice No. Account Debited Post Ref. Nov.03 Nov.12 Nov.28 80 Lemon Co. 81 Triple A Inc. 82 Murphy Inc. Accounts Rec. Dr. Fees Earned Cr. 398 254 623

Journal Page | Answer-2: Date Aug. 10 Aug. 17 Action Collected cash Provided service on account Invoice No. Posted From 30 Cash receipt journal 33 Revenue journal 16

Answer-3: Date Aug.04 Aug. 19 Aug. 23 Account Credited Innovation Supplies Office Warehouse Rubble Suppllies Post Ref. Account payable Cr. Cleaning Supplies Dr. Other Account Dr. Post Ref. Amount 79 $ 79 No Entry required 5,660 Office Equipment $ 5,660 224 224 No Entry required

Journal Page Answer-4: Date Nov.11 Nov.22 Action Cash paid on account Purchased service on account Invoice No. Posted From 217 Cash payment journal 207 Purchase journal 98