Relating sales and cash receipts to the subsidiary ledger Model Trains Enthusiasts Shop’s sales and cash receipts journals for the month of April are presented below. The accounts receivable subsidiary ledger is reconciled with the general ledger account each month. On 1 April, the subsidiary ledger had four accounts: A. Tilden — \($230;\) L. Tran — \($320;\) N. Summers — \($430;\) T. Schmidt — \($450\).

Required

(a) Establish a T account for each customer’s account in the subsidiary ledger and an Accounts Receivable Control account. Post the amounts to the accounts receivable subsidiary ledger and the general ledger using the information in the journals shown.

(b) Prepare a schedule of the accounts in the subsidiary ledger and compare its total to the balance in the control account.

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Sales Journal Page 16 Cash Receipts Journal Page 14 Date Invoice Account Amount Accounts 1/4 1407 J. Wayne Date Account Cash 340 Receivable 6/4 1408 A. Tilden 200 4/4 A. Tilden 220 220 7/4 1409 L. Tran 320 12/4 L. Tran 420 420 18/4 1410 N. Summers 180 24/4 N. Summers 320 320 27/4 1411 B. Pham 290 26/4 T. Schmidt 460 460