Bill Porter Company has a balance in its Accounts Receivable control account of $10,200 on January 1,

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Bill Porter Company has a balance in its Accounts Receivable control account of $10,200 on January 1, 2017. The subsidiary ledger contains three accounts: Connor Company, balance $4,000; Uhlig Company, balance $2,500; and Matson Company. During January, the following receivable-related transactions occurred.
Bill Porter Company has a balance in its Accounts Receivable

Instructions
(a) What is the January 1 balance in the Matson Company subsidiary account?
(b) What is the January 31 balance in the control account?
(c) Compute the balances in the subsidiary accounts at the end of the month.
(d) Which January transaction would not be recorded in a special journal?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Accounting Tools for Business Decision Making

ISBN: 978-1118096895

6th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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