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20 Feb
2021

Prepare a schedule of accounts receivable.

Category:ACADEMICIAN

SOLUTION AT Australian Expert Writers

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Ch 7. Homework – Group B (graded) instructions | help
Exercise 7-12 Posting to subsidiary ledger accounts; preparing a schedule of accounts receivable L.O. P2 [The following information applies to the questions displayed below.]
At the end of May, the sales journal of Clear View appears as follows.
Date Account Debited
Invoice Number PR
Accounts Receivable Dr. Sales Cr.
Cost of Goods Sold Dr. Inventory Cr.
May 6 Aaron Reckers 190 4,510 3,428 10 Sara Reed 191 3,570 2,945 17 Anna Page 192 1,589 934 25 Sara Reed 193 636 374
31 Totals 10,305 7,681
Clear View also recorded the return of defective merchandise with the following entry.
Date General Journal Debit Credit May 20 Sales Returns and Allowances 125
Accounts Receivable—Anna Page 125 Customer returned (worthless) merchandise.
references
Exercise 7-12 Part 1 Required: 1. Post to the customer accounts the entries in the sales journal and any portion of the general journal
entry that affects a customer’s account. (Record the transactions in the given order. Leave no cells blank – be certain to select “NA” and enter “0” wherever required. Omit the “$” sign in your response.)
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
Anna Page
May 17 May 20
Sara Reed
May 10 NA
May 25 NA
Aaron Reckers
May 6 NA
eBook Link View Hint #1 references
Exercise 7-12 Part 2 2. Post the sales journal and any portion of the general journal entry that affects these accounts. (Record
the transactions in the given order. Leave no cells blank – be certain to select “NA” and enter “0” wherever required. Omit the “$” sign in your response.)
GENERAL LEDGER Accounts Receivable
Daniel NashPrinciples of Accounting I: acg2001_474426

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