On January 1, T-Shirt Trends, a merchandising business, had the following balances in its general ledger and accounts receivable subsidiary ledger. 

Instructions

On the forms provided in your working papers:

1. Open the general ledger accounts and record the January 1 balances.

2. Open the customer accounts in the accounts receivable subsidiary ledger and record the January 1 balances.

3. Record the January transactions. Use page 12 in the general journal.

4. Post the transactions to the general ledger and accounts receivable subsidiary ledger accounts.

Transcribed Image Text:

General Ledger 101 Cash In Bank 115 Accounts Receivable 215 Sales Tax Payable 401 Sales 405 Sales Discounts 410 Sales Returns and Allowances Accounts Receivable Subsidiary Ledger MOR Morales, Gabriela ROU Roundabout Fashions SAM Samstead Fashions SAN Sandpiper Sports Club $ 7,500 10,920 1,500 18,620 1,400 300 $ 420 3,150 5,250 2,100