Question

Vail Company recorded the following transactions during November.

Date			General Journal	Debit		Credit
Nov.	5		Accounts Receivable—Ski Shop	5,320
			Sales			5,320
	10		Accounts Receivable—Welcome Enterprises	1,562
			Sales			1,562
	13		Accounts Receivable—Zia Natara	916
			Sales			916
	21		Sales Returns and Allowances	236
			Accounts Receivable—Zia Natara			236
	30		Accounts Receivable—Ski Shop	3,256
			Sales			3,256

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

Solution:

General ledger
Accounts receivable
Nov-05	5,320	236	Nov-21
Nov-10	1,562
Nov-13	916
Nov-30	3,256
End bal.	10,818

Sales returns and allowances
Nov-21	236
End bal.	236

Welcome Enterprises
Nov-10	1,562
End Bal.	1,562

Sales
		5,320	Nov-05
		1,562	Nov-10
		916	Nov-13
		3,256	Nov-30
End Bal.		11,054

Accounts receiable Subsidiary Ledger
SKI shop
Nov-05	5,320
Nov-30	3,256
End bal.	8,576

Zia Natara
Nov-13	916	236	Nov-21
End Bal.	680

VAIL COMPANY
Schedule of Accounts Receivble
November 30,
Ski shop	8,576
Welcome Enterprises	1,562
Zia Natara	680
Total	10,818

Copy of HomeworkLib2 - Microsoft Excel (Product Activation Failed) x File Home Insert Page Layout Formulas Data Review View X * Cut AutoSum Calibri 11 A A z Wrap Text General Normal Bad Good La Copy Fill- Paste B 1 U- A, *Merge & Center Calculation Conditional Format as Neutral Formatting Table Check Cell Insert Delete Format Format Painter 2 Clear Sort & Find & Filter - Select Editing Clipboard Font Alignment Number F Styles Cells Q16 fac A B С D E F G H 1 J K L M N 0 Р Q R S 1 2 Sales 3 Date General Journal Nov-05 Accounts receivable - ski shop Sales Debit Credit 5,320 5,320 Nov-05 4 Nov-21 General ledger Accounts receivable 5,320 236) 1,562 916 3,256 Nov-05 Nov-10 Nov-13 Nov-30 5,320 1,562 916 3,256 5 Nov-10 Nov-13 Nov-30 6 1,562 10 Accounts receivable- welcome enterprises sales 7 1,562 VAIL COMPANY Schedule of Accounts Receivble November 30, Ski shop 8,576 Welcome Enterprises 1,562 Zia Natara 680 Total 10,818 8 End Bal. 11,054 9 916 End bal. 10,818 13 Accounts receivabl-zia natara Sales 916 Sales returns and allowances Nov-21 236 Accounts receiable Subsidiary Ledger SKI shop Nov-05 5,320 Nov-30 3,256 236 21 Sales returns and allowances accounts receivable-zia natara 236 30 Accounts receivable-ski shop 3,256 End bal. 236 End bal. 8,576 Sales 3,256 Welcome Enterprises Nov-10 1,562 Zia Natara 916 Nov-13 236 Nov-21 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 End Bal. 1,562 End Bal. 680 29 30 31 32 Sheet180 Sheet181 Sheet182 Sheet183 Sheet184 Sheet185 Sheet186 Sheet187 Sheet188 Sheet189 Sheet190 IIII Ready 100% Type here to search о i 91% <l») ENG 20:51 25-09-2020