The revenue and cash receipts journals for Polaris Productions Inc. follow. The accounts receivable control account has a January 1, 20Y4, balance of $3,790 consisting of an amount due from Clear Pointe Studios Inc. Page 16 REVENUE JOURNAL Accts. Rec. Dr. Fees Earned Cr. Invoice Post. Date No. Account Debited Ref. 20Y4 Echo Broadcasting Co.... Jan. 6 2,300 Gold Coast Media Inc.. 5,100 14 Echo Broadcasting Co.. Clear Pointe Studios Inc. .. 22 3 2,980 25 4 1,650 Amber Communications Inc. 29 3,650 15,680 31 (12) (41) CASH RECEIPTS JOURNAL Page 36 Accts. Rec. Cr. Cash Post. Fees Date Account Credited Ref. Earned Cr. Dr. 20Y4 6 Clear Pointe Studios Inc. 11 Fees Earned.. Jan. 3,790 3,790 3,200 3,200 18 Echo Broadcasting Co. 2,300 2,300 28 Gold Coast Media Inc. 5,100 5,100 3,200 31 11,190 14,390 (41) (12) (11) Prepare a listing of the accounts receivable customer balances and verify that the total agrees with the ending balance of the accounts receivable controlling account.
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- Transactions related to revenue and cash receipts completed by Crowne Business Services Co. during the period April 230 are as follows: Post revenue and collections to the accounts receivable subsidiary ledger. Instructions 1. Insert the following balances in the general ledger as of April 1: 2. Insert the following balances in the accounts receivable subsidiary ledger as of April 1: 3. Prepare a single-column revenue journal (p. 40) and a cash receipts journal (p. 36). Use the following column headings for the cash receipts journal: Fees Earned Cr., Accounts Receivable Cr., and Cash Dr. The Fees Earned column is used to record cash fees. Insert a check mark () in the Post. Ref. column when recording cash fees. 4. Using the two special journals and the two-column general journal (p. 1), journalize the transactions for April. Post to the accounts receivable subsidiary ledger, and insert the balances at the points indicated in the narrative of transactions. Determine the balance in the customers account before recording a cash receipt. 5. Total each of the columns of the special journals and post the individual entries and totals to the general ledger. Insert account balances after the last posting. 6. Determine that the sum of the customer balances agrees with the accounts receivable controlling account in the general ledger. 7. Why would an automated system omit postings to a controlling account as performed in step 5 for Accounts Receivable?The revenue journal and cash receipts journal for Polaris Productions Inc. follow. The accounts receivable control account has a January 1, 20Y4, balance of $7,390, consisting of an amount due from Clear Pointe Studios Inc. REVENUE JOURNAL Accounts Rec. Dr. Invoice No. Date Account Debited Post Ref. Fees Earned Cr. 20Y4 Echo Broadcasting Co. 2,200 Jan. 6 Gold Coast Media Inc. Jan. 14 8,650 Echo Broadcasting Co. 3,850 Jan. 22 Clear Pointe Studios Inc 1,960 Jan. 25 4 Jan. 29 Amber Communications Inc. 3,210 Jan, 31 19,870 (12)(41) CASH RECEIPTS JOURNAL Accounts Rec. Cr. Post Ref. Account Credited Cash Dr. Date Fees Earned Cr. 20Y4 7,390 Jan. 6 Clear Pointe Studios Inc. 7,390 5,040 Jan. 11 Fees Earned 5,040 Echo Broadcasting Co. Jan. 18 2,200 2,200 Jan. 28 Gold Coast Media Inc. 8,650 8,650Accounts Receivable Subsidiary Ledger The revenue journal and cash receipts journal for Birmingham Productions Inc. follow. The accounts receivable control account has a January 1, 20Y4, balance of $4,720 consisting of an amount due from Clear Pointe Studios Inc. REVENUE JOURNAL Page 16 Date Invoice No. Account Debited Post. Ref. Accounts Rec. Dr.Fees Earned Cr. 20Y4 Jan. 6 1 Echo Broadcasting Co. ✔ 2,860 14 2 Gold Coast Media Inc. ✔ 6,350 22 3 Echo Broadcasting Co. ✔ 3,710 25 4 Clear Pointe Studios Inc. ✔ 2,050 29 5 Amber Communications Inc. ✔ 4,550 31 19,520 (12) (41) CASH RECEIPTS JOURNAL Page 36 Date Account Credited Post. Ref. Fees Earned Cr. Accounts Rec. Cr. Cash Dr. 20Y4 Jan. 6 Clear Pointe Studios Inc. ✔ — 4,720 4,720 11 Fees Earned 3,990 3,990 18 Echo Broadcasting Co. ✔ — 2,860 2,860…
- 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., $725. Mar. 4. Received cash from CMI Inc., on account, for $180. Mar. 8. Issued Invoice No. 513 to Gabriel Co., $255. Mar. 12. Issued Invoice No. 514 to Yarnell Inc., $640. Mar. 19. Received cash from Yarnell Inc., on account, $485. Mar. 20. Issued Invoice No. 515 to Electronic Central Inc., $140. Mar. 28. Received cash from Marshall Inc. for services provided, $100. Mar. 29. Received cash from Santorini Co. for Invoice No. 512 of March 2. Mar. 31. Received cash from McCleary Co. for services provided, $60. 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 DATE Invoice No. Account Debited Post. Ref. Accounts Rec. Dr.Fees Earned Cr.…Accounts Receivable Subsidiary Ledger The revenue journal and cash receipts journal for Birmingham Productions Inc. follow. The accounts receivable control account has a January 1, 20Y4, balance of $4,720 consisting of an amount due from Clear Pointe Studios Inc. REVENUE JOURNAL Page 16 Accounts Rec. Dr. Date Invoice No. Account Debited Post. Ref. Fees Earned Cr. 20Y4 Jan. 6 1 Echo Broadcasting Co. 2,860 14 2 Gold Coast Media Inc. 6,350 22 3 Echo Broadcasting Co. 3,710 25 4 Clear Pointe Studios Inc. 2,050 29 5 Amber Communications Inc. 4,550 31 19,520 (12) (41) CASH RECEIPTS JOURNAL Page 36 Date Account Credited Post. Ref. Fees Earned Cr. Accounts Rec. Cr. Cash Dr. 20Y4 Jan, 6 Clear Pointe Studios Inc. 4,720 4,720 11 Fees Earned 3,990 3,990 18 Echo Broadcasting Co. 2,860 2,860 28 Gold Coast Media Inc. 6,350 6,350 31 3,990 13,930 17,920 (41) (12) (11) Prepare a listing of the accounts receivable customer balances and verify that the total agrees with the ending balance of the accounts…Revenue and Cash Receipts Journals Transactions related to revenue and cash receipts completed by Augusta Inc. during the month of March 20Y8 are as follows: Mar. 2. Issued Invoice No. 512 to Santorini Co., $1,095. 4. Received cash from CMI Inc., on account, for $275. 8. Issued Invoice No. 513 to Gabriel Co., $385. 12. Issued Invoice No. 514 to Yarnell Inc., $965. 19. Received cash from Yarnell Inc., on account, $735. 20. Issued Invoice No. 515 to Electronic Central Inc., $210. 28. Received cash from Marshall Inc. for services provided, $155. 29. Received cash from Santorini Co. for Invoice No. 512 of March 2. 31. Received cash from McCleary Co. for services provided, $90. Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Enter the transactions in chronological order. Question Content Area REVENUE JOURNAL PAGE 8 DATE Invoice No. Account Debited Post. Ref.…
- Revenue and Cash Receipts Journals Transactions related to revenue and cash receipts completed by Augusta Inc. during the month of March 20Y8 are as follows: Mar. 2. Issued Invoice No. 512 to Santorini Co., $2,135. 4. Received cash from CMI Inc., on account, for $475. 8. Issued Invoice No. 513 to Gabriel Co., $520. 12. Issued Invoice No. 514 to Yarnell Inc., $1,985. 19. Received cash from Yarnell Inc., on account, $1,305. 20. Issued Invoice No. 515 to Electronic Central Inc., $455. 28. Received cash from Marshall Inc. for services provided, $380. 29. Received cash from Santorini Co. for Invoice No. 512 of March 2. 31. Received cash from McCleary Co. for services provided, $195. Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Enter the transactions in chronological order.Transactions related to revenue and cash receipts completed by Sterling Engineering Services during the period June 230 are as follows: Instructions 1. Insert the following balances in the general ledger as of June 1: 2. Insert the following balances in the accounts receivable subsidiary ledger as of June 1: 3. Prepare a single-column revenue journal (p. 40) and a cash receipts journal (p. 36). Use the following column headings for the cash receipts journal: Fees Earned Cr., Accounts Receivable Cr., and Cash Dr. The Fees Earned column is used to record cash fees. Insert a check mark () in the Post. Ref. column when recording cash fees. 4. Using the two special journals and the two-column general journal (p. 1), journalize the transactions for June. Post to the accounts receivable subsidiary ledger and insert the balances at the points indicated in the narrative of transactions. Determine the balance in the customers account before recording a cash receipt. 5. Total each of the columns of the special journals and post the individual entries and totals to the general ledger. Insert account balances after the last posting. 6. Determine that the sum of the customer accounts agrees with the accounts receivable controlling account in the general ledger. 7. Why would an automated system omit postings to a control account as performed in step 5 for Accounts Receivable?The revenue and cash receipts journals for Mirage Productions Inc. follow. The accounts receivable control account has a August 1, 2016, balance of 4,230 consisting of an amount due from Celestial Studios Inc. Prepare a listing of the accounts receivable customer balances and verify that the total agrees with the ending balance of the accounts receivable controlling account.
- Transactions related to revenue and cash receipts completed by Sycamore Inc. during the month of March 20Y8 are as follows: Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Use the following column headings for the cash receipts journal: Fees Earned Cr., Accounts Receivable Cr., and Cash Dr. Place a check mark () in the Post. Ref. column to indicate when the accounts receivable subsidiary ledger should be posted.Transactions related to revenue and cash receipts completed by Albany Architects Co. during the period November 230, 2016, are as follows: Instructions 1. Insert the following balances in the general ledger as of November 1: 2. Insert the following balances in the accounts receivable subsidiary ledger as of November 1: 3. Prepare a single-column revenue journal (p. 40) and a cash receipts journal (p. 36). Use the following column headings for the cash receipts journal: Fees Earned Cr., Accounts Receivable Cr., and Cash Dr. The Fees Earned column is used to record cash fees. Insert a check mark () in the Post. Ref. column when recording cash fees. 4. Using the two special journals and the two-column general journal (p. 1), journalize the transactions for November. Post to the accounts receivable subsidiary ledger, and insert the balances at the points indicated in the narrative of transactions. Determine the balance in the customers account before recording a cash receipt. 5. Total each of the columns of the special journals, and post the individual entries and totals to the general ledger. Insert account balances after the last posting. 6. Determine that the sum of the customer balances agrees with the accounts receivable controlling account in the general ledger. 7. Why would an automated system omit postings to a controlling account as performed in step 5 for Accounts Receivable?Using the following cash payments journal, identify each of the posting references, indicated by a letter, as representing (1) a posting to a general ledger account, (2) a posting to a subsidiary ledger account, or (3) that No posting is required. CASH PAYMENTS JOURNAL Page 46 Date Ck.No. Account Debited Post.Ref. OtherAccountsDr. AccountsPayableDr. Cash Cr. 20Y1 July 3 611 Energy Systems Co. (a) 4,000 4,000 July 5 612 Utilities Expense (b) 310 310 July 10 613 Prepaid Rent (c) 3,200 3,200 July 16 614 Flowers to Go, Inc. (d) 1,250 1,250 July 19 615 Advertising Expense (e) 640 640 July 22 616 Office Equipment (f) 3,600 3,600 July 25 617 Echo Co. (g) 5,500 5,500 July 26 618 Office Supplies (h) 250 250 July 31 619 Salaries Expense (i) 1,750 1,750 July 31 9,750 10,750 20,500 (j) (k) (l) Post reference represents: a. b. c. d. e. f. g.…