Recording sales transactions, posting to the accounts receivable ledger, and preparing a s...

Recording sales transactions, posting to the accounts receivable ledger, and preparing a schedule of accounts receivable.

Wine Country Gift Shop sells cards, supplies, and various holiday gift items. All sales are subject to a sales tax of 8 percent. The shop uses a sales journal and general journal.

INSTRUCTIONS

1. Record the credit sale transactions for February in the proper journal. Use 6 as the page number for the sales journal and 16 as the page number for the general journal.

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2. Immediately after recording each transaction, post to the accounts receivable ledger.

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3. Post the entries to the appropriate accounts.

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4. Prepare a schedule of accounts receivable and compare the balance due with the amount shown in the Accounts Receivable control account.

Analyze: How many postings were made to the general ledger?