Business, 03.07.2020 18:01 emilyrobles
Transactions related to revenue and cash receipts completed by Sterling Engineering Services during the period June 2-30 are as follows:
June 2. Issued Invoice No. 717 to Yee Co., $1,430.
3. Received cash from Auto-Flex Co. for the balance owed on its account.
7. Issued Invoice No. 718 to Cooper Development Co., $670.
10. Issued Invoice No. 719 to Ridge Communities, $2,840. Post revenue and
collections to the accounts receivable subsidiary ledger.
14. Received cash from Cooper Development Co. for the balance owed on June
1.
16. Issued Invoice No. 720 to Cooper Development Co., $400. Post revenue and
collections to the accounts receivable subsidiary ledger.
18. Received cash from Yee Co. for the balance due on invoice of June 2.
20. Received cash from Cooper Development Co. for invoice of June 7.
23. Issued Invoice No. 721 to Auto-Flex Co., $860.
30. Received cash from fees earned, $4,520.
30. Received office equipment of $1,800 in partial settlement of balance due
on the Ridge Communities account.
Required:
1. Insert the following balances in the general ledger as of June 1:
11 Cash $18,340
12 Accounts Receivable 2,650
18 Office Equipment 34,700 41
Fees Earned
After completing the recording of transactions in parts 3 and 4, post the individual entries and totals to the general ledger. Insert account balances after posting. When posting to the general ledger, post in chronological order. However, if there is more than one entry on the same date, be sure to post tra from the general Journal first, then from the revenue journal before posting transactions from the cash receipts journal.
Date Item Post. Ref Debit Credit Balance Dr. Balance Cr.
Account: Cash #11
June 1 Balance 11,530 X 8,710
June 30
Account: Accounts Receivable #12
June 1 Balance
June 30
June 30
June 30
Account Office Equipment #18
June 1 Balance
June 30
June 30
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