Enter the following transactions starting on page 60 of a general journal and post them to the

Question:

Enter the following transactions starting on page 60 of a general journal and post them to the appropriate general ledger and accounts receivable ledger accounts. Use account numbers as shown in the chapter. Beginning balance in Accounts Receivable is $3,900. Beginning balances in selected customer accounts are Adams, $850; Greene, $428; and Phillips, $1,018.

June 1 Marie L. Phillips returned merchandise previously purchased on account (Sale No. 33), $43.

11 John B. Adams returned merchandise previously purchased on account (Sale No. 34), $59.

15 L. B. Greene returned merchandise previously purchased on account (Sale No. 35), $21.

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...