At the end of May, the sales journal of River View appears as follows....

At the end of May, the sales journal of River View appears as follows.

Required

1. Open an accounts receivable subsidiary ledger that has a T-account for each customer listed in the

sales journal. Post to the customer accounts the entries in the sales journal and any portion of the

general journal entry that affects a customer’s account.

2. Open a general ledger that has T-accounts for Accounts Receivable, Inventory, Sales, Sales Returns

and Allowances, and Cost of Goods Sold. Post the sales journal and any portion of the general journal

entry that affects these accounts.

3. Prepare a schedule of accounts receivable and prove that its total equals the balance in the Accounts

Receivable controlling account.