The following transactions occurred for Food on the Go of Edmonton for the month of June: Required
Question:
The following transactions occurred for Food on the Go of Edmonton for the month of June:
Required
a. Journalize the transactions in the appropriate journals.
b. Record in the accounts receivable subsidiary ledger and post to the general ledger as appropriate.
c. Prepare a schedule of accounts receivable.
Transcribed Image Text:
2022 June 3 Sold merchandise Cost of inventory was $600. 4 Sold merchandise to Sue Machado Co. on account, $550, invoice No. 2. Cost of inventory was $412.50. 7 Sold merchandise to Long Co. on account, $900, invoice No. 3. Cost of inventory was $675. 11 14 to Joe Kase Co. on account, $800, invoice No. 1. 18 Issued credit memorandum No. 1 to Joe Kase Co. for $160 worth of merchandise returned. Cost of inventory was $120. Sold merchandise to Sue Machado Co. on account, $700, invoice No. 4. Cost of inventory was $525. Sold merchandise to Long Co. on account, $250, invoice No. 5. Cost of inventory was $187.50.
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Related Book For
College Accounting A Practical Approach
ISBN: 9780135222416
14th Canadian Edition
Authors: Jeffrey Slater, Debra Good
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