At the end of May, the sales journal of Mountain View appears as follows.

Mountain View also recorded the return of defective merchandise with the following entry.

Required
1. Open an accounts receivable subsidiary ledger that has a T-account for each customer listed in the sales journal. Post to the customer accounts the entries in the sales journal and any portion of the general journal entry that affects a customer€™s account.
2. Open a general ledger that has T-accounts for Accounts Receivable, Inventory, Sales, Sales Returns and Allowances, and Cost of Goods Sold. Post the sales journal and any portion of the general journal entry that affects these accounts.
3. Prepare a schedule of accounts receivable and prove that its total equals the balance in the Accounts Receivable controlling account.

Transcribed Image Text:

Accounts Receivable Dr. Sales Cr. 3,880 2,940 1,850 1,340 10,010 Cost of Goods Sold Dr. Inventory Cr 3,120 2,325 1,480 1,075 8,000 Account Invoice Number PR Debited Aaron Reckers Sara Reed Anna Page Sara Reed Totals Date May 6 10 17 25 31 190 191 192 193 May 20 Sales Returns and Allowances. 350 . . . . . .. Accounts Receivable-Anna Page . . . . Customer returned (worthless) merchandise. . . . 350 . . . . . …