The revenue journal for Hi Performance Consulting Inc. is shown below. The accounts receivable control account has a February 1, 2010, balance of $1,050 consisting of an amount due from Arnott Co. There were no collections during February.
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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 control and fees earned accounts.
Post control totals to the two accounts, and determine the ending balances.
d. Verify the equality of the sum of the customer account balances and the accounts receivable control account balance.