PE 5-2B Accounts receivable subsidiary ledger

The debits and credits from two transactions are presented in the following customer account:

NAME Moravian Products Inc.
ADDRESS 46 W. Main St.
Date Item
Post.  
Ref. Debit Credit Balance
Aug.  1 Balance ✓1,200
10 Invoice No. 119 R24 7501,950
17 Invoice No. 106 CR46610 1,340

Describe each transaction and the source of each posting.


Answers:
Aug. 
10. Provided $750 services on account to Moravian Products Inc., itemized on Invoice No. 119. Amount posted from Page 24 of the revenue journal.

17. Collected cash of $610 from Moravian Products Inc. (Invoice No. 106). Amount posted from Page 46 of the cash receipts journal.