Apr. 26 Sold merchandise on account to O’Neill Company, invoice no. 827, $569.90.
28 Issued credit memo no. 63 to Durham Hardware for damage to merchandise, $52.48.
30 Sold merchandise on account to Durham Hardware, invoice no. 828, $735.50.
Required
1. Record these sales of merchandise on account in the sales journal (page 39). Record the sales returns and allowances in the general journal (page 74).
2. Immediately after recording each transaction, post to the accounts receivable ledger.
3. Post the amounts from the general journal daily. Post the sales journal amount as a total at the end of the month: Accounts Receivable 113, Sales 411, Sales Returns and Allowances 412.
4. Prepare a schedule of accounts receivable. Compare the balance of the Accounts Receivable controlling account with the total of the schedule of accounts receivable.
