1. Open the general ledger accounts and accounts receivable ledger accounts shown below. Enter the balances as...

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1. Open the general ledger accounts and accounts receivable ledger accounts shown below. Enter the balances as of April 1, 2019.

2. Post the entries from the general journal in Problem 7.4A to the appropriate accounts in the general ledger and in the accounts receivable ledger.

3. Prepare a schedule of accounts receivable. Compare the balance of the Accounts Receivable control account with the total of the schedule.

GENERAL LEDGER ACCOUNTSS

1. Open the general ledger accounts and accounts receivable ledger

ACCOUNTS RECEIVABLE LEDGER ACCOUNTS

1. Open the general ledger accounts and accounts receivable ledger

Analyze: What were the total sales on account in April, prior to any returns, allowances, or discounts?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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College Accounting A Contemporary Approach

ISBN: 978-0077639730

4th edition

Authors: David Haddock, John Price, Michael Farina

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