Exercise 7.9 (Algo) Posting to the general ledger and the accounts receivable ledger. LO 7-4

Assume the following account balances at January 1, 20X1:

Accounts Receivable (control account)	$	8,160
Accounts ReceivableJohn Gibrone		5,000
Accounts ReceivableJim Garcia		2,120
Accounts ReceivableJune Lin		1,040

GENERAL JOURNAL

DATE

DESCRIPTION

POST. REF.

DEBIT

CREDIT

20X1

Jan.

8

Cash

500

Accounts Receivable/John Gibrone

500

Received partial payment on

account from John Gibrone

20

Sales Returns and Allowances

300

Sales Tax Payable

24

Accounts Receivable/Jim Garcia

324

Accept return of defective

merchandise, Credit

Memorandum 121; original sale

made on Sales Slip 11102 of

January 2, 20X1

Required: Post the entries in the general journal above to the Accounts Receivable account in the general ledger and to the appropriate accounts in the accounts receivable ledger for Calderone Company.