Based upon the data presented in Exercise 5-1, assume that the beginning balances for the customer accounts were zero, except for SSC Corp., which had a $540 beginning balance.

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 customer balance summary report at September 30, 2008.