Sales journal, subsidiary ledger, and schedule of accounts receivable LO5 LO6 Church...

Sales journal, subsidiary ledger, and schedule of accounts receivable LO5 LO6

Church Company completes the following transactions during March, its first month of operations (terms for all its credit sales are 2/10, n/30).

Mar. 2 Sold merchandise on credit to Min Cho, Invoice No. 854, for $16,800 plus sales tax of $1,176.

3 Sold merchandise on credit to Linda Witt, Invoice No. 855, for $10,200 plus sales tax of $714.

10 Sold merchandise on credit to Jovita Albany, Invoice No. 856, for $5,600 plus sales tax of $392.

27 Sold merchandise on credit to Jovita Albany, Invoice No. 857, for $14,910 plus sales tax of $1,044.

28 Sold merchandise on credit to Linda Witt, Invoice No. 858, for $4,315 plus sales tax of $302.

Required

1. Open the following general ledger accounts: Accounts Receivable (#106), Sales (#400), and Sales

Tax Payable (#205). Open the following accounts receivable subsidiary ledger accounts: Jovita

Albany, Min Cho, and Linda Witt.

2. Enter the transactions in a sales journal like Exhibit 11.6. Number all journal pages as page 2.

3. Post all transactions to the accounts receivable subsidiary ledger and its month-end totals to the general

ledger.

4. Prove the accuracy of the subsidiary ledger by preparing a schedule of accounts receivable as of March 31.