Assume the following account balances as of March 1, 20x1: Accounts receivable (control account) $1,788 Accounts...

 

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Assume the following account balances as of March 1, 20x1: Accounts receivable (control account) $1,788 Accounts receivable-Carol Fountain Accounts receivable-Rich Jones 940 848 Date 28x1 General Journal Post. Description Mar.14 Sales returns and allowances Sales tax payable Accounts rec.-Carol Fountain Accepted return on defective merchandise, Credit Meno 161; original sale of Feb. 23, Sales Slip 1101 22 Sales returns and allowances Sales tax payable. Accounts rec.-Rich Jones Gave allowance for damaged merchandise, Credit Meno 162; original sale Mar. 15, Sales Slip 1150 Ref. Debit Credit Post the above journal entries to the appropriate ledger accounts. 399 24 324 58 54 Accounts Receivable Date Debit Credit Account No. 111 Balance Sales Tax Payable Date Account No. 231 Debit Credit Balance Mar 1, 20x1 1788 Sales Returns and Allowances Account No. 451 Carol Fountain Terms n130 Date Debit Credit Balance Date Mar. 1, 20X1 Debit Credit Terms 30 Balance 848 Rich Jones Date Debil Credit Mar. 1,20x1 Balance 940 Assume the following account balances as of March 1, 20x1: Accounts receivable (control account) $1,788 Accounts receivable-Carol Fountain Accounts receivable-Rich Jones 940 848 Date 28x1 General Journal Post. Description Mar.14 Sales returns and allowances Sales tax payable Accounts rec.-Carol Fountain Accepted return on defective merchandise, Credit Meno 161; original sale of Feb. 23, Sales Slip 1101 22 Sales returns and allowances Sales tax payable. Accounts rec.-Rich Jones Gave allowance for damaged merchandise, Credit Meno 162; original sale Mar. 15, Sales Slip 1150 Ref. Debit Credit Post the above journal entries to the appropriate ledger accounts. 399 24 324 58 54 Accounts Receivable Date Debit Credit Account No. 111 Balance Sales Tax Payable Date Account No. 231 Debit Credit Balance Mar 1, 20x1 1788 Sales Returns and Allowances Account No. 451 Carol Fountain Terms n130 Date Debit Credit Balance Date Mar. 1, 20X1 Debit Credit Terms 30 Balance 848 Rich Jones Date Debil Credit Mar. 1,20x1 Balance 940