James Stewart owns a general store in a country town. He keeps two subsidiary ledgers (an accounts receivable ledger and an accounts payable ledger) and a general ledger.

Balances in the subsidiary ledgers as at 31 March 2010 were as follows:

1 Post from the journals to the accounts receivable and accounts payable control accounts in the general ledger, and to the accounts receivable and accounts payable ledgers.

2 Prepare supporting schedules of accounts receivable and accounts payable at 30 April 2016, and agree with the balances in the control accounts.
 
 

Transcribed Image Text:

Date 2016 April 2 13 16 20 Brown Green White Accounts receivable Particulars White Brown Soge Ruby 900 700 460 2060 1240 2.400 1160 1700 6.500 Blue Red Transactions for the month April 2016 Sales journal Date Apr 7 Accounts payable Red Blue Sage 22 Grey 222 16 Particulars 20 5 580 1500 2080 Purchase journal 2000 1120 200 750 4070 Date 2016 April 2 13 16 20 Brown Green White Accounts receivable Particulars White Brown Soge Ruby 900 700 460 2060 1240 2.400 1160 1700 6.500 Blue Red Transactions for the month April 2016 Sales journal Date Apr 7 Accounts payable Red Blue Sage 22 Grey 222 16 Particulars 20 5 580 1500 2080 Purchase journal 2000 1120 200 750 4070

Answer rating: 100% (QA)

Accounts receivableDebtors It is the amount due to customers o... View the full answer