PE 5-2B Accounts receivable subsidiary ledger

The debits and credits from two transactions are presented in the following customer
account:
NAME Mobility Products Inc.
ADDRESS 46 W. Main St.
                                  Post.
 Date     Item              Ref.          Debit         Credit          Balance
Sept. 1 Balance             􀀹                                                    1,200
         8 Invoice 119      R24           840                                2,040
       17 Invoice 106      CR46                            590             1,450

Describe each transaction and the source of each posting.

Answer:
Sept. 8. Provided $840 services on account to Mobility Products Inc., itemized
             on Invoice No. 119. Amount posted from page 24 of the revenue journal.
       17. Collected cash of $590 from Mobility Products Inc. (Invoice No. 106).
             Amount posted from page 46 of the cash receipts journal.