how might a computerized system differ from a revenue journal in recording revenue t 551360

EX 5-7 Posting a revenue journal

The revenue journal for Tech-Aid Consulting Inc. is shown below. The accounts receivable control account has a July 1, 2012, balance of $805 consisting of an amount due from Astro Star Co. There were no collections during July.

a. Prepare a T account for the accounts receivable customer accounts.

b. Post the transactions from the revenue journal to the customer accounts, and determine their ending balances.

c. Prepare T accounts for the accounts receivable and fees earned accounts. Post control totals to the two accounts, and determine the ending balances.

d. Prepare a schedule of the customer account balances to verify the equality of the sum of the customer account balances and the accounts receivable account balance.

e. How might a computerized system differ from a revenue journal in recording revenue transactions?