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.
