Required Kate Collins has opened Fontina and Stuff, a wholesale grocery and cheese company. The following...

  

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Required Kate Collins has opened Fontina and Stuff, a wholesale grocery and cheese company. The following transactions occurred in February: 201X 4 Feb. 1 Sold grocery merchandise to Fran Co. on account, $850, invoice no. 1. Sold cheese merchandise to Groom Co. on account, $1,100, invoice no. 2. Sold grocery merchandise to Dutch Co. on account, $1,100, invoice no. 3. Issued credit memorandum no. 1 to Fran Co. for $160 of grocery merchandise returned due to spoilage. 8 10 15 19 25 Sold cheese merchandise to Groom Co. on account, $250, invoice no. 4. Sold grocery merchandise to Dutch Co. on account, $650, invoice no. 5. Sold cheese merchandise to Fran Co. on account, $700, invoice no. 6. 1. Journalize the transactions. 2. Record to the accounts receivable subsidiary ledger and post to the gen- eral ledger as appropriate. 3. Prepare a schedule of accounts receivable for the end of February. Required Kate Collins has opened Fontina and Stuff, a wholesale grocery and cheese company. The following transactions occurred in February: 201X 4 Feb. 1 Sold grocery merchandise to Fran Co. on account, $850, invoice no. 1. Sold cheese merchandise to Groom Co. on account, $1,100, invoice no. 2. Sold grocery merchandise to Dutch Co. on account, $1,100, invoice no. 3. Issued credit memorandum no. 1 to Fran Co. for $160 of grocery merchandise returned due to spoilage. 8 10 15 19 25 Sold cheese merchandise to Groom Co. on account, $250, invoice no. 4. Sold grocery merchandise to Dutch Co. on account, $650, invoice no. 5. Sold cheese merchandise to Fran Co. on account, $700, invoice no. 6. 1. Journalize the transactions. 2. Record to the accounts receivable subsidiary ledger and post to the gen- eral ledger as appropriate. 3. Prepare a schedule of accounts receivable for the end of February.

Answer rating: 100% (QA)

1 Date Account Titles Explanation Debit Credit 201X Feb 1 Accounts Receivable Fran Co 850 Sale 850 F... View the full answer