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

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

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

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: Carlos

Mantel, Tori Tripp, and Cyd Rounder.

2. Enter the transactions in a sales journal like that in Exhibit 11.6. Number the journal page 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

November 30. Check (4) Total accounts receivable,

$35,937