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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education