Question

Required information

[The following information applies to the questions displayed below.]

Vail Company recorded the following selected transactions during November Current Year.

Date			General Journal	Debit		Credit
Nov.	5		Accounts Receivable—Ski Shop	4,615
			Sales			4,615
	10		Accounts Receivable—Welcome Enterprises	1,350
			Sales			1,350
	13		Accounts Receivable—Zia Natara	832
			Sales			832
	21		Sales Returns and Allowances	209
			Accounts Receivable—Zia Natara			209
	30		Accounts Receivable—Ski Shop	2,713
			Sales			2,713

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.

	General Ledger Accounts Receivable Sales End.Bal 0 0 End.Bal 0 0 Accounts Receivable Subsidiary Ledger Sales Returns and Allowances Ski Shop End.Bal 0 0 End.Bal 0 0 Welcome Enterprises Zia Natara End.Bal 0 0 End.Bal 0 0

Required information

[The following information applies to the questions displayed below.]

Vail Company recorded the following selected transactions during November Current Year.

Date			General Journal	Debit		Credit
Nov.	5		Accounts Receivable—Ski Shop	4,615
			Sales			4,615
	10		Accounts Receivable—Welcome Enterprises	1,350
			Sales			1,350
	13		Accounts Receivable—Zia Natara	832
			Sales			832
	21		Sales Returns and Allowances	209
			Accounts Receivable—Zia Natara			209
	30		Accounts Receivable—Ski Shop	2,713
			Sales			2,713

2. Prepare a schedule of accounts receivable.

Answer 1

General ledger
Accounts Receivable						Sales
Nov 5	4615	209	Nov 21					4615	Nov 5
Nov 10	1350							1350	Nov 10
Nov 13	832							832	Nov 13
Nov 30	2713							2713	Nov 30
End. Bal.	9301					End. Bal.		9510
Sales return and allowances						Ski Shop
Nov 21	209					Nov 5	4615
						Nov 30	2713
End. Bal.	209					End. Bal.	7328
Welcome Enterprises						Zia Natara
Nov 10	1350					Nov 13	832	209	Nov 21
End. Bal.	1350					End. Bal.	623
2
Schedule of Accounts Receivable
November 30, Current year
Ski Shop	7328
Welcome Enterprises	1350
Zia Natara	623
Total	9301