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., $905.
4. Received cash from CMI Inc., on account, for $205.
8. Issued Invoice No. 513 to Gabriel Co., $220.
12. Issued Invoice No. 514 to Yarnell Inc., $845.
19. Received cash from Yarnell Inc., on account, $555.
20. Issued Invoice No. 515 to Electronic Central Inc., $195.
28. Received cash from Marshall Inc. for services provided, $160.
29. Received cash from Santorini Co. for Invoice No. 512 of March 2.
31. Received cash from McCleary Co. for services provided, $85.
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.
Answer:
Page 8 InvoicePost.No.Ref. Fees Earned Cr. 20Y8 Mar. 2 512 Santorini Co. 8 513 Gabriel Co. 12 514 Yarnell Inc. 20 515 Electronic Central Inc. 31 Page 12 20Y8 Mar. 4 CMI Inc. 19 Yarnell Inc. 28 Fees Earned 160 29 Santorini Co. 31 Fees Earned 85 31245 1,665 205 555 905 1,910
