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On September 1, the balance of the Accounts Receivable control
account in the general ledger of Montgomery Company was $10,520.
The customers’ subsidiary ledger contained account balances as
follows: Hurley $1,450, Andino $2,290, Fowler $2,080, and Sogard
$4,700. At the end of September, the various journals contained the
following information. Sales journal: Sales to Sogard $750, to
Hurley $1,100, to Giambi $1,360, and to Fowler $1,120. Cash
receipts journal: Cash received from Fowler $1,370, from Sogard
$2,130, from Giambi $330,...
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CALCULATOR PRINTER VERSION Exercise 7-03 a-c (Part Level Submisslon) (Video) On September 1. the balance of the Accounts Receivable control account in the general ledger of Blossom Company was $11,360. The customers' subsidiary ledger contained account balances as follows: Hurley $1,590, Andino $2,640, Fowler $2,130, and Sogard $5,000. At the end of September, the various journals contained the following information Sales journal: Sales to Sogard $810, to Hurley $1,270, to Glambi $1,390, and to Fowler $1,070 Cash receipts journal: Cash...
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Prepare a schedule of accounts receivable and prove the
agreement of the controlling account with the subsidiary ledger at
September 30, 2020.On September 1, the balance of the Accounts
Receivable control account in the general ledger of Pharoah Company
was $10,860. The customers’ subsidiary ledger contained account
balances as follows: Hurley $1,420, Andino $2,530, Fowler $1,930,
and Sogard $4,980. At the end of September, the various journals
contained the following information.
Sales journal:
Sales to Sogard $710, to Hurley $1,200,...
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Post the entries in the general journal below to the Accounts
Receivable account in the general ledger and to the appropriate
accounts in the accounts receivable ledger for Calderone
Company.
Assume the following account balances at January 1,
2019:
Accounts Receivable (control account)
$
7,560
Accounts Receivable—John Gibrone
4,500
Accounts Receivable—Jim Garcia
2,070
Accounts Receivable—June Lin
990
GENERAL JOURNAL
DATE
DESCRIPTION
POST.
REF.
DEBIT
CREDIT
2019
Jan.
8
Cash
450
Accounts Receivable/John Gibrone
450
Received partial payment on
account...
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question 4
Able Fastners Co. has a balance in its Accounts Receivable general ledger control account of S 10,000 on January 1, 2019. The subsidiary ledger contains three vendor nts: Jones Company, balance of s 3,000; Keller Company, balance of $ 1,000, arson Company. The combined subsidiary ledger account balances of Jones 4 Com om,Keller Company, and Larson Company at January 1, 2019 agree to the Accounts unts receivable general ledger control account balance at such date. During January 2019,...
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Revenue and cash receipts journals; accounts receivable subsidiary and general ledgers Transactions related to revenue and cash receipts completed by Crowne Business Services Co. during the period April 2-30 are as follows: Apr. 2. Issued Invoice No. 793 to Ohr Co., $4,680. Apr. 5. Received cash from Mendez Co. for the balance owed on its account. Apr. 6. Issued Invoice No. 794 to Pinecrest Co., $1,990. Apr. 13. Issued Invoice No. 795 to Shilo Co., $3,450. Post revenue and collections...
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Revenue and cash receipts journals; accounts receivable
subsidiary and general ledgers
Transactions related to revenue and cash receipts completed by
Crowne Business Services Co. during the period April 2–30 are as
follows:
Apr. 2.
Issued Invoice No. 793 to Ohr Co., $6,260.
Apr. 5.
Received cash from Mendez Co. for the balance owed on its
account.
Apr. 6.
Issued Invoice No. 794 to Pinecrest Co., $2,260.
Apr. 13.
Issued Invoice No. 795 to Shilo Co., $3,360.
Post revenue and collections...
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which of the following statements is true?
a. The balance in the control account, Accounts Receivable, should be equal to the sum of the balances in the subsidiary ledger for accounts receivable. b. An accounts receivable subsidiary ledger represents amounts due to vendors and suppliers. C. A subsidiary ledger takes the place of the control account for some companies. d. When a company uses a subsidiary ledger, the balance in the control account, Accounts Receivable, shows only the amount the...
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Revenue and cash receipts journals; accounts receivable
subsidiary and general ledgers
Transactions related to revenue and cash receipts completed by
Crowne Business Services Co. during the period April 2–30 are as
follows:
Apr. 2.
Issued Invoice No. 793 to Ohr Co., $6,730.
Apr. 5.
Received cash from Mendez Co. for the balance owed on its
account.
Apr. 6.
Issued Invoice No. 794 to Pinecrest Co., $2,420.
Apr. 13.
Issued Invoice No. 795 to Shilo Co., $3,610.
Post revenue and collections...
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Post the entries in the general journal below to the Accounts
Receivable account in the general ledger and to the appropriate
accounts in the accounts receivable ledger for Calderone
Company.
Assume the following account balances at January 1,
2019:
Accounts Receivable (control account)
$
9,120
Accounts Receivable—John Gibrone
5,800
Accounts Receivable—Jim Garcia
2,200
Accounts Receivable—June Lin
1,120
GENERAL JOURNAL
DATE
DESCRIPTION
POST.
REF.
DEBIT
CREDIT
2019
Jan.
8
Cash
580
Accounts Receivable/John Gibrone
580
Received partial payment on
account...