The revenue and cash receipts journals for Fantasy Productions Inc. are shown below

The revenue and cash receipts journals for Fantasy Productions Inc. are shown below. The accounts receivable control account has a July 1, 2014, balance of $3,670 consisting of an amount due from Crowne Studios Inc.


"Revenue Journal Page 16
Date
Invoice
No. Account Debited
Post.
Ref.
Accts. Rec. Dr.
Fees Earned Cr.
2014
July 6 1 Franklin Broadcasting Co. . . . . . . . . . . . . . . . . . . . . .  1,750
14 2 Gold Coast Media Inc. . . . . . . . . . . . . . . . . . . . . . . . .  4,500
22 3 Franklin Broadcasting Co. . . . . . . . . . . . . . . . . . . . . .  2,200
27 4 Crowne Studios Inc. . . . . . . . . . . . . . . . . . . . . . . . . . .  1,250
28 5 Amber Communications Inc. . . . . . . . . . . . . . . . . . .  3,940
31 13,640
(12) (41)
Cash Receipts Journal Page 36
Date Account Credited
Post.
Ref.
Fees
Earned Cr.
Accts. Rec.
Cr.
Cash
Dr.
2014
July 6 Crowne Studios Inc. . . . . . . . . . . . . . . . . . . . . .  — 3,670 3,670
11 Fees Earned . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,200 3,200
18 Franklin Broadcasting Co. . . . . . . . . . . . . . . . .  — 1,750 1,750
28 Gold Coast Media Inc. . . . . . . . . . . . . . . . . . .  — 4,500 4,500
31 3,200 9,920 13,120
(41) (12) (11)





Prepare a listing of the accounts receivable customer balances and verify that the total agrees with the ending balance of the accounts receivable controlling account.


Answer:

FANTASY PRODUCTIONS INC.
Accounts Receivable Customer Balances
July 31, 2014
Amber Communications Inc. $3,940
Crowne Studios Inc. 1,250
Franklin Broadcasting Co. 2,200
Gold Coast Media Inc. 0
Total accounts receivable $7,390
Accounts Receivable
(Controlling)
Balance, July 1, 2014 $ 3,670
Total debits (from revenue journal) 13,640
Total credits (from cash receipts journal) (9,920)
Balance, July 31, 2014 $ 7,390