Revenue and Cash Receipts Journals Transactions related to revenue and cash receipts completed by Sycamore Inc. during the month of March 20Y8 are as follows: Mar. 2. Issued Invoice No. 512 to Santorini Co., $715. Mar. 4. Received cash from CMI Inc., on account, for $180. Mar. 8. Issued Invoice No. 513 to Gabriel Co., $250. Mar. 12. Issued Invoice No. 514 to Yarnell Inc., $630. Mar. 19. Received cash from Yarnell Inc., on account, $480. Mar. 20. Issued Invoice No. 515 to Electronic Central Inc., $135. Mar. 28. Received cash from Marshall Inc. for services provided, $100. Mar. 29. Received cash from Santorini Co. for Invoice No. 512 of March 2. Mar. 31. Received cash from McCleary Co. for services provided, $55. Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Enter the transactions in chronological order.

Single Column revenue journal is given below

Explanation:

                                              Single Column Revenue Journal

Date    No.    Account Dr        A/c Receivable Dr / Fee earned Cr

Mar.2   512      Santorini Co.          $ 715

Mar.8    513   Gabriel  Co.             $250

Mar.12   514     Yarnell Co.             $ 630

Mar.20   515  Electronic Central Inc.  $135

                                            Cash Receipts Journal

Date  No   Accounts Cr       Fee earned      A.c Rec. Cr   Cash Dr

Mar.4          CMI                                                   $ 180       $ 180

Mar.19          Yarnell Co.                                      $ 480       $ 480  

Mar.28        Fee Earned             $ 100                                 $100

Mar.28        Santorini Co.                                     $715          $ 715

Mar.31         Fee Earned               $75                                     $75                                              

answer; monopolistic competition;