On September 1, the balance of the Accounts Receivable control account in the general ledger of John’s Produce, Inc., was $11,960.The customers’ subsidiary ledger contained account balances as follows: Jana Seafood $2,440; Bingston Bakery $2,640; Cavanaugh Pancakes $2,060; Bickford Grille $4,820. At the end of September, the various journals contained the following information:
Sales journal: Sales to Bickford Grille $800; to Jana Seafood $1,260; to Iman Groceries $1,030; to Cavanaugh Pancakes $1,100.
Cash receipts journal: Cash received from Cavanaugh Pancakes $1,310; from Bickford Grille $2,300; from Iman Groceries $380; from Kingston Bakery $1,800; from Jana Seafood $1,240. General journal: An allowance is granted to Bickford Grille $220.
(a) Set up control and subsidiary accounts, and enter the beginning balances. Do not construct the journals.
(b) Post the various journals. Post the items as individual items or as totals, whichever would be the appropriate procedure.
(c) Prepare a list of customers, and prove the agreement of the controlling account with the subsidiary ledger at September 30, 2008.

  • CreatedFebruary 06, 2013
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