Question

Transactions related to revenue and cash receipts completed by Sycamore Inc. during the month of March...

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., $1,145.
Mar. 4. Received cash from CMI Inc., on account, for $285.
Mar. 8. Issued Invoice No. 513 to Gabriel Co., $400.
Mar. 12. Issued Invoice No. 514 to Yarnell Inc., $1,010.
Mar. 19. Received cash from Yarnell Inc., on account, $765.
Mar. 20. Issued Invoice No. 515 to Electronic Central Inc., $220.
Mar. 28. Received cash from Marshall Inc. for services provided, $160.
Mar. 29. Received cash from Santorini Co. for Invoice No. 512 of March 2.
Mar. 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.

REVENUE JOURNAL PAGE 8

DATE
Invoice No.
Account Debited
Post. Ref.		 Accounts Rec. Dr.
Fees Earned Cr.
20Y8
✔
✔
✔
✔
Total

If an amount box does not require an entry, leave it blank.

CASH RECEIPTS JOURNAL PAGE 12
DATE Account Credited Post. Ref. Fees Earned Cr. Accounts Rec. Cr. Cash Dr.
20Y8
✔
✔
✔
Total
Business   Accounting   
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Answer #1

REVENUE JOURNAL

DATE INVOICE NO. ACCOUNT DEBITED POST REF. ACCOUNT REC. DR. FEE EARNED CR.
MAR. 2 512 ACCOUNT RECEIVABLE(SANTORINI CO) $1145 $1145
MAR. 8 513 ACCOUNT RECEIVABLE(GABRIEL) $400 $400
MAR. 12 514 ACCOUNT RECEIVABLE(YARNELL INC) $1010 $1010
MAR 20 515 ACCOUNT RECEIVABLE(ELECTRONIC CENETRAL INC) $220 $220
MAR 31 CASH $90
$2775 $2865

CASH RECEIPT

DATE ACCOUNT CREDITED POST REF. FEE EARNED CR. ACCOUNT REC. CR. CASH DR.
MAR. 4 ACCOUNT RECEIVABLE(CMI INC.) $285 $285
MAR 19 ACCOUNT RECEIVABLE(YARNELL INC) $765 $765
MAR 28 ACCOUNT RECEIVABLE(MARSHELL INC,) $160 $160
MAR 29 ACCOUNT RECEIVABLE(SANTORINI CO,) $1145 $1145
MAR 31 REVENUE EARNED $90 $90
$90 $2355 $2445
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