Question

Required information Exercise 7-1 Accounts receivable subsidiary ledger: schedule of accounts receivable LO C1 The following information applies to the questions ayed below/ Vail Company recorded the following transactions during November Date General Journal Nov. 5 Accounts Receivable-Ski Shop Sales Debit Credit 4,023 4,023 1e Accounts Receivable-Welcome Enterprises 2,672 Sales 2,672 13 Accounts Receivable-Zia Natara Sales 1,567 1,567 21 Sales Returns and Allowances Accounts Receivable-Zia Natara 404 404 30 Accounts Receivable-Ski Shop Sales 5,571 5,571 Exercise 7-1 Part 1 1. Prepare a general ledger having T-accounts for Accounts Receivable, Sales, and Sales Returns and Allowances. Post these entries to both the general ledger and the accounts receivable ledger

Answer 1

General ledge

ACCOUNTS RECEIVABLE

particular	amt	particular	amt
SALES-ski shop	4023	SALES RETURN-zia natara	484
SALES-welcome enterprises	2672
SALES-zia natara	1567
SALES-ski shop	5571
end balance	13833		484

SALES A/C

particular	amt	particular	amt
		A/C REC-ski shop	4023
		A/C REC-welcome enterprise	2672
		A/C REC-zia natara	1567
		A/C REC-ski shop	5571
end balance			13833

SALES RETURN

particular	amt	particular	amt
A/C REC-zia natara	484
end balance	484

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

SKI SHOP

particular	amt	particular	amt
		sales-a/c rec	4023
		sales-a/c rec	5571
end balance			9594

WELCOME ENTERPRISE

particular	amt	particular	amt
		sales-a/c rec	2672
end balance	nil		2672

ZIA NATARA

particular	amt	particular	amt
sales return	484	sales-a/c rec	1567
end balance	484		1567