Asked by Arthur Brooks on Jun 03, 2024
Verified
Two transactions were posted to the following customer account.NAME: Boogie Board Water WearADDRESS: 2340 Xtreme Surf 
Describe each transaction and the source of each posting.
Customer Account
An account maintained by a business for each customer to track transactions, balances, and other relevant information.
- Gain insight into the duty and arrangement of subsidiary ledgers in accounting structures.
- Assess and interpret the impact of commercial transactions on organizational financial reports.
Verified Answer
OW
Oliver WoottenJun 09, 2024
Final Answer :
July 6Sold $645 on account to Boogie Board Water Wear, itemized on Invoice No. 406. Amount posted from page 42 of the revenue journalJuly 24Cash of $710 was collected from Boogie Board Water Wear, Invoice No. 456. Amount posted from page 56 of the cash receipts journal.
Learning Objectives
- Gain insight into the duty and arrangement of subsidiary ledgers in accounting structures.
- Assess and interpret the impact of commercial transactions on organizational financial reports.
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