Madison Services Company had the following transactions during the month of April: Apr. 2. Issued Invoice No.

Question:

Madison Services Company had the following transactions during the month of April:
Apr. 2. Issued Invoice No. 201 to Triple Play Corp. for services rendered on account, $345.
3. Issued Invoice No. 202 to Mid States Inc. for services rendered on account, $410.
14. Issued Invoice No. 203 to Triple Play Corp. for services rendered on account, $110.
25. Issued Invoice No. 204 to Parker Co. for services rendered on account, $830.
28. Collected Invoice No. 201 from Triple Play Corp.
a. Prepare a revenue journal with the following headings to record the April revenue transactions for Madison Services Company.

b. What is the total amount posted to the accounts receivable and fees earned accounts from the revenue journal for April?
c. What is the April 30 balance of the Triple Play Corp. customer account assuming a zero balance on April1?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...