Question

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, to Giambi $1,320, and to Fowler $1,030.
Cash receipts journal:		Cash received from Fowler $1,320, from Sogard $2,240, from Giambi $220, from Andino $1,760, and from Hurley $1,100.
General journal:		An allowance is granted to Sogard $320.

Answer 1

Accounts Receivable Schedule Andino Fowler Giambi Hurley Hurley Andino Fowler Giambi Sogard Sogard 1420 $ 2,530 $ 1,930 1200 4,980 $ 1,030710 1,1001,760$ 1,320 2,240 220 320 3 Balance 4 Sales Cash 1,320 Allowance Balance1,520 $770 $ 1,640 S 3,130 1,100 6 2620 $ 2,530 $ 2,960$5,690 1,320 $ 2,620$ 2,530$ 2,960 5,690$ 1,320