Brenda, a regular customer, bought goods worth 8,500 for her bookstore. Freight of 1,500 was prepaid under
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Question:
18 Shepard Voice Publishing House bought books worth ₱6,000. Terms: ₱2,000 down balance 2/10, n/30, FOB shipping point. Freight collect ₱300.
25 Collected the account of Brenda, ₱5,000.
27 Collected the balance from Rolling Bookstore.
Required:
a.Journalize the above transactions.
b.Open a T-account for the accounts receivable, post the entries and extract the balance.
c.Open subsidiary ledgers for account customers, post entries and extract the balances. Reconcile against the accounts receivable balance.
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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