The debits and credits from two transactions are presented in the following customer account:NAME Matrix Communications Inc

The debits and credits from two transactions are presented in the following customer account:


NAME Matrix Communications Inc.
ADDRESS 76 Oak Ridge Rd.
Date Item
Post.
Ref. Debit Credit Balance
May 1 Balance  280
20 Invoice 527 CR106 100 180
27 Invoice 529 R92 90 270


Describe each transaction and the source of each posting.

Answer:
May 20. Collected cash of $100 from Matrix Communications Inc. (Invoice No. 527).
Amount posted from page 106 of the cash receipts journal.

27. Provided $90 of services on account to Matrix Communications Inc.,
itemized on Invoice No. 579. Amount posted from page 92 of the revenue
journal.