EXHIBIT 7 Revenue and Cash Receipts in QuickBooks 1. Record fees by completing an electronic Invoice Date Involce No. Bill To: 03/02/19 615 Journal Entry Equivalent Accessories By Claire 244 Grand Ave. invoice form Dr. Cr. Des Molnes, IA 50310 and sending to customer PO. Number Terms Accounts Receivable- Accessories By Claire. Fees Earned....... Item Description Computer consulting Quantity Rate Amount Tax . 2,200 (print and mail, or e-mail). Consulting 22 100.00 2,200.00 2,200 D0.0% Total mo tax CUstomer Message 0.00 2,200.00 Accessorles By Claire 244 Grand Ave. Des Molnes, IA 50310 Receive payment. 2. Record collection Journal Entry Equivalent Customer Payment Balance Date 03/28/19 2,200.00 Amount 5,200.00 of payment by completing a "receive Dr. Cr. Pmt. Method Check No. Cash.. Accounts Receivable- Accessories By Claire. 2.200 Involces pald (wilth this payment) and those still outstanding Type Number Job Orig. Amt. Disc. Date Payment Date Amt. Due payment" form. J03/02/19 Involce 615 J03/27/19 involce 618 2,200.00 2,200.00 2,200.00 2,200 3,000.00 3,000.00 0.00 Totals 5,200.00 2,200.00 Discount InfoExisting Credits OApply Existing Credits? Deposit:O Group with other undeposited funds Clear Payments Total to Apply. Unapplied Amount: 0.00 2,200.00 0.00 ODeposit to(Hrst Union Bank 3. Prepare reports. From:03/01/19 To: 0381/19 Total By:A Dates: Custom Dates From: Jo3/31/19 Dates: To: 03/31/19 Custom Dates Netsolutions Cash Recelpts March 2019 Netsolutions Accounts Recelvable Customer Balances March 31, 2019 Type Date Name Amount First Union Bank Sales Recelpt Payment Payment Payment Mar 31,'19 03/01/19 Rental Customer 400.00 Accessorles By Claire 3,400.00 2,200.00 1,750.00 3,000.004 Web Cantina 03/19/19 03/28/19 Accessorles By Clalre Rapzone Web Cantina 2,650.00 03/2819 TOTAL 5,650.00 Total First Untion Bank 7,750.00 From: 03/01/15 To: 03/31/19 OHlde HeaderOCollapse Dates: Custom Dates NetSolutios Fees Earned by Custom er March 2019 Type Date Num Name Amount Service Consulting Involce Involce Involce Involce Accessorles By Clalre 2,200.00 . Rapzone Web Cantina Accessorles By Clalre 3,000.00 о3л0219 615 03/06/19 03/18/19 616 617 1,750.00 2,650.00 03/27/19 618 Total Consulting 9,600.00

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Most computerized accounting systems use electronic forms to record transaction information, such as the invoice form illustrated at the top of Exhibit 7 in this chapter.
a. Identify the key input fields (spaces) in an electronic invoice form.
b. What accounts are posted from an electronic invoice form?
c. Why aren’t special journal totals posted to control accounts at the end of the month in an electronic accounting system?

EXHIBIT 7
Revenue and Cash Receipts in QuickBooks
1. Record fees
by completing
an electronic
Invoice
Date
Involce No.
Bill To:
03/02/19
615
Journal Entry Equivalent
Accessories By Claire
244 Grand Ave.
invoice form
Dr.
Cr.
Des Molnes, IA 50310
and sending to
customer
PO. Number
Terms
Accounts Receivable-
Accessories By Claire.
Fees Earned.......
Item
Description
Computer consulting
Quantity
Rate
Amount
Tax
. 2,200
(print and
mail, or e-mail).
Consulting
22 100.00
2,200.00
2,200
D0.0%
Total
mo tax
CUstomer Message
0.00
2,200.00
Accessorles By Claire
244 Grand Ave.
Des Molnes, IA 50310
Receive payment.
2. Record
collection
Journal Entry Equivalent
Customer Payment
Balance
Date
03/28/19
2,200.00
Amount
5,200.00
of payment
by completing
a "receive
Dr.
Cr.
Pmt. Method
Check No.
Cash..
Accounts Receivable-
Accessories By Claire.
2.200
Involces pald (wilth this payment) and those still outstanding
Type Number Job
Orig. Amt.
Disc. Date
Payment
Date
Amt. Due
payment" form.
J03/02/19 Involce 615
J03/27/19 involce 618
2,200.00
2,200.00
2,200.00
2,200
3,000.00
3,000.00
0.00
Totals
5,200.00
2,200.00
Discount InfoExisting Credits
OApply Existing Credits?
Deposit:O Group with other undeposited funds Clear Payments Total to Apply.
Unapplied Amount:
0.00
2,200.00
0.00
ODeposit to(Hrst Union Bank
3. Prepare reports.
From:03/01/19 To: 0381/19 Total By:A
Dates: Custom Dates
From: Jo3/31/19
Dates:
To: 03/31/19
Custom Dates
Netsolutions
Cash Recelpts
March 2019
Netsolutions
Accounts Recelvable Customer Balances
March 31, 2019
Type
Date
Name
Amount
First Union Bank
Sales Recelpt
Payment
Payment
Payment
Mar 31,'19
03/01/19
Rental Customer
400.00
Accessorles By Claire
3,400.00
2,200.00
1,750.00
3,000.004
Web Cantina
03/19/19
03/28/19
Accessorles By Clalre
Rapzone
Web Cantina
2,650.00
03/2819
TOTAL
5,650.00
Total First Untion Bank
7,750.00
From: 03/01/15 To: 03/31/19 OHlde HeaderOCollapse
Dates: Custom Dates
NetSolutios
Fees Earned by Custom er
March 2019
Type
Date
Num
Name
Amount
Service
Consulting
Involce
Involce
Involce
Involce
Accessorles By Clalre 2,200.00 .
Rapzone
Web Cantina
Accessorles By Clalre 3,000.00
о3л0219
615
03/06/19
03/18/19
616
617
1,750.00
2,650.00
03/27/19
618
Total Consulting
9,600.00
Transcribed Image Text:EXHIBIT 7 Revenue and Cash Receipts in QuickBooks 1. Record fees by completing an electronic Invoice Date Involce No. Bill To: 03/02/19 615 Journal Entry Equivalent Accessories By Claire 244 Grand Ave. invoice form Dr. Cr. Des Molnes, IA 50310 and sending to customer PO. Number Terms Accounts Receivable- Accessories By Claire. Fees Earned....... Item Description Computer consulting Quantity Rate Amount Tax . 2,200 (print and mail, or e-mail). Consulting 22 100.00 2,200.00 2,200 D0.0% Total mo tax CUstomer Message 0.00 2,200.00 Accessorles By Claire 244 Grand Ave. Des Molnes, IA 50310 Receive payment. 2. Record collection Journal Entry Equivalent Customer Payment Balance Date 03/28/19 2,200.00 Amount 5,200.00 of payment by completing a "receive Dr. Cr. Pmt. Method Check No. Cash.. Accounts Receivable- Accessories By Claire. 2.200 Involces pald (wilth this payment) and those still outstanding Type Number Job Orig. Amt. Disc. Date Payment Date Amt. Due payment" form. J03/02/19 Involce 615 J03/27/19 involce 618 2,200.00 2,200.00 2,200.00 2,200 3,000.00 3,000.00 0.00 Totals 5,200.00 2,200.00 Discount InfoExisting Credits OApply Existing Credits? Deposit:O Group with other undeposited funds Clear Payments Total to Apply. Unapplied Amount: 0.00 2,200.00 0.00 ODeposit to(Hrst Union Bank 3. Prepare reports. From:03/01/19 To: 0381/19 Total By:A Dates: Custom Dates From: Jo3/31/19 Dates: To: 03/31/19 Custom Dates Netsolutions Cash Recelpts March 2019 Netsolutions Accounts Recelvable Customer Balances March 31, 2019 Type Date Name Amount First Union Bank Sales Recelpt Payment Payment Payment Mar 31,'19 03/01/19 Rental Customer 400.00 Accessorles By Claire 3,400.00 2,200.00 1,750.00 3,000.004 Web Cantina 03/19/19 03/28/19 Accessorles By Clalre Rapzone Web Cantina 2,650.00 03/2819 TOTAL 5,650.00 Total First Untion Bank 7,750.00 From: 03/01/15 To: 03/31/19 OHlde HeaderOCollapse Dates: Custom Dates NetSolutios Fees Earned by Custom er March 2019 Type Date Num Name Amount Service Consulting Involce Involce Involce Involce Accessorles By Clalre 2,200.00 . Rapzone Web Cantina Accessorles By Clalre 3,000.00 о3л0219 615 03/06/19 03/18/19 616 617 1,750.00 2,650.00 03/27/19 618 Total Consulting 9,600.00
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