Transactions related to revenue and cash receipts completed by Sycamore Inc. during the

Transactions related to revenue and cash receipts completed by Sycamore Inc. during the
month of October 2014 are as follows:
Oct. 2. Issued Invoice No. 512 to Albany Co., $670.
 4. Received cash from CMI Inc., on account, for $215.
 8. Issued Invoice No. 513 to Gabriel Co., $275.
12. Issued Invoice No. 514 to Ells Inc., $840.
19. Received cash from Ells Inc., on account, $475.
22. Issued Invoice No. 515 to Electronic Central Inc., $150.
27. Received cash from Marshall Inc. for services provided, $145.
29. Received cash from Albany Co. for invoice of October 2.
31. Received cash from McCleary Co. for services provided, $90.

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:

REVENUE JOURNAL Page 8
Date
Invoice
No. Account Debited
Post.
Ref.
Accounts Rec. Dr.
Fees Earned Cr.
2014
Oct. 2 512 Albany Co. √ 670
8 513 Gabriel Co. √ 275
12 514 Ells Inc. √ 840
22 515 Electronic Central Inc. √ 150
31 1,935
CASH RECEIPTS JOURNAL Page 12
Date Account Credited Post.
Ref.
Fees Earned
Cr.
Accts.
Rec. Cr.
Cash
Dr.
2014
Oct. 4 CMI Inc. √ 215 215
19 Ells Inc. √ 475 475
27 Fees Earned 145 145
29 Albany Co. √ 670 670
31 Fees Earned 90 90
31 235 1,360 1,595