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Prepare a single-column revenue and a cash receipts journal

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Problem - Revenue and cash receipts journals - Transactions related to revenue and cash receipts completed by Main Line Inc. during the month of August 2012 are as follows:

Aug. 2. Issued Invoice No. 512 to Boston Co., $780.

Aug. 4. Received cash from CMI Inc., on account, for $195.

Aug. 8. Issued Invoice No. 513 to Gabriel Co., $275.

Aug. 12. Issued Invoice No. 514 to Dockers Inc., $690.

Aug. 19. Received cash from Dockers Inc., on account, $525.

Aug. 22. Issued Invoice No. 515 to Electronic Central Inc., $150.

Aug. 27. Received cash from Marshall Inc. for services provided, $115.

Aug. 29. Received cash from Boston Co. for invoice of August 2.

Aug. 31. Received cash from McCleary Co. for services provided, $65.

Required - 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.

Reference no: EM132875550

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