On July 2, 2017, Efficient Energy Services performed an energy audit for an industrial client and earned

Question:

On July 2, 2017, Efficient Energy Services performed an energy audit for an industrial client and earned $4,000 of revenue on account. On July 14, 2017, the company received a cheque for the entire amount.
Required
1. Journalize the two transactions on the sixth page of the journal. Include an explanation for each transaction.
2. Create the three-column ledger and post the two transactions. The account number for is 12001.
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...