Posting transactions to the general ledger and accounts receivable ledger.

INSTRUCTIONS
1. Open the general ledger accounts and accounts receivable ledger accounts shown below and at the top of the next page. Enter the balances as of April 1, 2016.
2. Post the entries from the general journal in Problem 7.4A to the appropriate accounts in the general ledger and in the accounts receivable ledger.
3. Prepare a schedule of accounts receivable. Compare the balance of the Accounts Receivable control account with the total of the schedule.
Analyze: What were the total sales on account in April, prior to any returns, allowances, ordiscounts?

Transcribed Image Text:

GENERAL LEDGER ACCOUNTS 101 111 401 Cash, S27,400 Dr. Accounts Receivable, $4,300 Dr. Sales 451 452 Sales Returns and Allovances Sales Discounts ACCOUNTS RECEIVABLE LEDGER ACCOUNTS Alto Music Center Country Tunes Havik Music Center Modern Sounds Music Supply Store Music Warehouse Oldies Sounds S2,000 S2,300