Prepare a schedule of accounts receivable.

1. value:1.00 points

2. value:1.00 points

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

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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

 

 

3. value:1.00 points

May 31 May 20

Sales

NA May 31

Sales Returns and Allowances

May 20 NA

Inventory

NA May 31

Cost of Goods Sold

May 31 NA

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Exercise 7-12 Part 3 3. Prepare a schedule of accounts receivable. (Omit the “$” sign in your response.)

CLEAR VIEW Schedule of Accounts Receivable

May 31 Anna Page $ Sara Reed Aaron Reckers Total accounts receivable $

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