Based on the data presented in Exercise 5-1, assume that the beginning balances for the customer accounts were zero, except for Tillman Inc., which had a $590 beginning balance.

In Exercise 5-1

In addition, there were no collections during the period.
a. Set up a T account for Accounts Receivable and T accounts for the four accounts needed in the customer ledger.
b. Post to the T accounts.
c. Determine the balance in the accounts.
d. Prepare a listing of the accounts receivable customer balances as of May 31, 20Y3.

REVENUE JOURNAL Invoice Post. Ref. Accounts Rec. Dr. Date 20Y3 May 1 O. Account Debited ees Earned Cr 112 Hazmat Safety Co. 13 Masco Co. 114 Alpha GenCorp 115 Tillman Inc. $2,050 980 2,800 1,240 $7,070 27 31