Exercise $7-12($Static$)$ Posting to subsidiary ledger accounts; preparing a schedule of accounts receivable LO P$1$

At the end of May, the sales journal of Mountain View appears as follows. Asrrume beginning inventory balance for May to be $$20,000.$

$\backslash$table$[[$Date$,$Account Debited,$\backslash$table$[[$Invoice$],[$Number$]],$PR$,\backslash$table$[[$Accounts$],[$Receivable$],[$Debit Sales$],[$Credit$]],\backslash$table$[[$Page $2.],[$Cost of Goods$],[$Sold Debit$],[$Inventory$],[$Credit$]]],[$May $6,$Aaron Reckers,$190,,3,880,3,120],[$May $10,$Sara Reed,$191,,2,940,2,325],[$May $17,$Anna Page,$192,,1,850,1,480],[$May $25,$Sara Reed,$193,,1,340,1,075],[$May $31,$Totals,,,$10,010,8,000]]$

Mountain View also recorded an allowance $($price reduction$)$ given to Anna Page with the following entry.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$May $20,$Sales Returns and Allowances,$350,350],[$Record allowance to customer.,,,$]]$

Required:

Post to the customer accounts the entries in the sales journal and any portion of the general journal entry that affects a customer's account.

Post the sales journal and any portion of the general journal entry that affects these accounts.

$3$a$.$ Prepare a schedule of accounts receivable.

$3$b$.$ Prove $($confirm$)$ that its total equals the balance in the accounts receivable controlling account.

lomework

Saved

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Required $3$A

Required $3$B

Post the sales journal and any portion of the general journal entry that affects cose accounts.

$\backslash$table$[[$GENERAL LEDGER$],[$Accounts Receivable$],[$Date$,$Debit,Credit,Balance$],[,.,,],[,,,],[,,,],[$Sales$],[$Date$,$Debit,Credit,Balance$],[,,,],[,,,],[,,,],[$Sales Returns and Allowances$],[$Date$,$Debit,Credit,Balance$],[$May $20,350,,350],[,,,],[\text{'},,,],[$Inventory$],[$Date$,$Debit,Credit,Balance$],[$Beginning Inventory,$-1,,20,000]]$

Prev

$3$ of $4$

Next

Exercise $7-12($Static$)$ Posting to subsidiary ledger accounts; preparing a schedule of accounts receivable LO P$1$

At the end of May, the sales journal of Mountain View appears as follows. Asrrume beginning inventory balance for May to be $$20,000.$

$\backslash$table$[[$Date$,$Account Debited,$\backslash$table$[[$Invoice$],[$Number$]],$PR$,\backslash$table$[[$Accounts$],[$Receivable$],[$Debit Sales$],[$Credit$]],\backslash$table$[[$Page $2.],[$Cost of Goods$],[$Sold Debit$],[$Inventory$],[$Credit$]]],[$May $6,$Aaron Reckers,$190,,3,880,3,120],[$May $10,$Sara Reed,$191,,2,940,2,325],[$May $17,$Anna Page,$192,,1,850,1,480],[$May $25,$Sara Reed,$193,,1,340,1,075],[$May $31,$Totals,,,$10,010,8,000]]$

Mountain View also recorded an allowance $($price reduction$)$ given to Anna Page with the following entry.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$May $20,\backslash$table$[[$Sales Returns and Allowances$],[$Accounts Receivable$-$Anna Page$]],350,350]]$

Required:

Post to the customer accounts the entries in the sales journal and any portion of the general journal entry that affects a customer's account.

Post the sales journal and any portion of the general journal entry that affects these accounts.

$3$a$.$ Prepare a schedule of accounts receivable.

$3$b$.$ Prove $($confirm$)$ that its total equals the balance in the accounts receivable controlling account.