the revenue journal for tri star consulting inc is shown below the accounts receivab 638658
The revenue journal for Tri Star Consulting Inc. is shown below. The accounts receivable control account has a May 1, 2008, balance of $1,200 consisting of an amount due from Ayres Co. There were no collections during May
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REVENUE JOURNAL |
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|
Invoice |
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Post. |
Accts. Rec. Dr. |
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Date |
No. |
Account Debited |
Ref. |
Fees Earned Cr. |
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2008 |
|
|
|
|
|
May 4 |
355 |
Brown Co. |
2,250 |
|
|
9 |
356 |
Life Star Inc. |
3,640 |
|
|
14 |
357 |
Ayres Co. |
1,890 |
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|
22 |
359 |
Brown Co. |
2,820 |
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|
|
|
|
10,600 |
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a. Prepare a T account for the accounts receivable customer accounts.
b. Post the transactions from the revenue journal to the customer accounts, and determine their ending balances.
c. Prepare T accounts for the accounts receivable control and fees earned accounts. Post control totals to the two accounts, and determine the ending balances.
d. Verify the equality of the sum of the customer account balances and the accounts receivable control account balance.