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At the end of May, the sales journal of Mountain View appears as follows. Assume beginning inventory balance for May to be $8,490.
Date Account
Debited Invoice Number PR Accounts Receivable Dr.
Sales Cr. Cost of Goods Sold Dr.
Inventory Cr.
May 6 Aaron Reckers 190 2,750 2,090
10 Sara Reed 191 1,810 1,493
17 Anna Page 192 805 473
25 Sara Reed 193 322 189
31 Totals 5,687 4,245


Mountain View also recorded the return of defective merchandise with the following entry.
Date General Journal Debit Credit
May 20 Sales Returns and Allowances 325
Accounts Receivable—Anna Page 325
Customer returned (worthless) merchandise.

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.

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
Anna Page
Date Debit Credit Balance
Sara Reed
Date Debit Credit Balance
Aaron Reckers
Date Debit Credit Balance
Post the sales journal amounts first and then any portion of the general journal entry that affects these accounts. Dates may not be chronological in the general ledger accounts.

GENERAL LEDGER
Accounts Receivable
Date Debit Credit Balance
Sales
Date Debit Credit Balance
Sales Returns and Allowances
Date Debit Credit Balance
Inventory
Date Debit Credit Balance
Beginning Inventory
Cost of Goods Sold
Date Debit Credit Balance
Prepare a schedule of accounts receivable.

MOUNTAIN VIEW

MOUNTAIN VIEW

Schedule of Accounts Receivable
May 31
Anna Page
Sara Reed
Aaron Reckers
Total accounts receivable

Respuesta :

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Answer:

Account Receivable

Subsidiary ledger

Anna Page

Date Debit ($) Credit ($) Balance ($)

May 17 1,850  1,800

May 20  350 1,500

Sara Reed

Date Debit($) Credit($) Balance ($)

May 10 2,940  2,940

May 25 1,340  4,280

Aron Reckers

Date Debit($) Credit ($) Balance($)

May 6 3,880  3,880

2.) General ledger

Account Receivable    

Date Debit ($) Credit ($) Balance ($)

May 31 10,010  10,010

May 20  350 9,660

Sales    

Date Debit ($) Credit ($) Balance ($)

May 31  10,010 10,010

Sales Return and Allowance    

Date Debit ($) Credit ($) Balance ($)

May 20 350  350

Inventory    

Date Debit ($) Credit ($) Balance ($)

Beginning inventory    

May 31  8,000 8,000

Cost of goods sold    

Date Debit ($) Credit ($) Balance

May 31 8,000  8,000

3.)

Mountain View

Schedule of Account Receivable

For the Month Ended May 31

Anna Page $1,500

Sara Reed $4,280

Aaron Reckers $3,880

Total account receivable $9,660

Explanation:

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