Post revenue and collections to the accounts receivable

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Reference no: EM132081164

Question: Transactions related to revenue and cash receipts completed by Aspen Architects Co. during the period June 2-30, 2014, are as follows: June 2. Issued Invoice No. 793 to Nickle Co. $6590 June 5. Received cash from Mendez Co. for the balance owed on its account. June 6. Issued Invoice No. 794 to Preston Co. $2370 June 13. Issued No. 795 to Shilo Co. $3530. Post revenue and collections to the accounts receivable subsidiary ledger. June 15. Received cash from Preston Co. for the balance owed on June 1. June 16. Issued Invoice No. 796 to Preston Co. $7380. Post revenue and collections to the accounts receivable subsidiary ledger. June 19. Received cash from Nickle Co. for the balance due on invoice of June 2. June 20. Received cash from Preston Co. for invoice of June 6. June 22. Issued Invoice No. 797 to Mendeez Co. $9720. June 25. Received $2690 note receivable in partial settlement of the balance due on the Shilo Co. account. June 30. Recorded cash fees earned, $16590. Post revenue and collections to the accounts receivable subsidiary ledger.

Required: 1- Insert the following balances in the general ledger as of June 1: 11 Cash $14930 12 Accounts Receivable $18180 14 Notes Receivable $7910 41 Fees Earned - 2-Insert the following balances in the accounts receivable subsidiary ledger as June 1. Mendez Co. $10450 Nickle Co. $- Preston Co. $ 7730 Shilo Co.

Reference no: EM132081164

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