Question

Revenue and Cash Receipts Journals Transactions related to revenue and cash receipts completed by Sycamore Inc. during the month of March 20Y8 are as follows: Mar. 2. Issued Invoice No. 512 to Santorini Co., $715. Mar. 4. Received cash from CMI Inc., on account, for $180. Mar. 8. Issued Invoice No. 513 to Gabriel Co., $250. Mar. 12. Issued Invoice No. 514 to Yarnell Inc., $630. Mar. 19. Received cash from Yarnell Inc., on account, $480. Mar. 20. Issued Invoice No. 515 to Electronic Central Inc., $135. Mar. 28. Received cash from Marshall Inc. for services provided, $100. Mar. 29. Received cash from Santorini Co. for Invoice No. 512 of March 2. Mar. 31. Received cash from McCleary Co. for services provided, $55. Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Enter the transactions in chronological order.

Answer 1

Single Column revenue journal is given below

Step-by-step explanation:

Single Column Revenue Journal

Date No. Account Dr A/c Receivable Dr / Fee earned Cr

Mar.2 512 Santorini Co. $ 715

Mar.8 513 Gabriel Co. $250

Mar.12 514 Yarnell Co. $ 630

Mar.20 515 Electronic Central Inc. $135

Cash Receipts Journal

Date No Accounts Cr Fee earned A.c Rec. Cr Cash Dr

Mar.4 CMI $ 180 $ 180

Mar.19 Yarnell Co. $ 480 $ 480

Mar.28 Fee Earned $ 100 $100

Mar.28 Santorini Co. $715 $ 715

Mar.31 Fee Earned $75 $75