The debits and credits from three related transactions are presented in the following customer’s account taken from the accounts receivable subsidiary ledger:

The debits and credits from three related transactions are presented in the following customer’s account taken from the accounts receivable subsidiary ledger:

NAME Mission Design ADDRESS 1319 Elm Street Date Item Post.  

Ref. Debit Credit Balance 20Y7 Apr.  3 R44 740 740 6 J11 60 680 24 CR81 680  —

Describe each transaction and identify the source of each posting.

Answer:

Apr. 

3. Provided service on account; posted from revenue journal Page 44.

6. Granted an invoice adjustment or corrected an error related to sale of April 3; posted from general journal Page 11. This does not represent a collection of cash, since the credit was not posted from the cash receipts journal.

24. Received cash for balance due; posted from cash receipts journal Page 81.