(Answered) 1 based on the data presented in exercise 5-1 assume that

Accounting

1. Based on the data presented in Exercise 5-1, assume that the beginning balances for the customer accounts were zero, except for TEK Corp., which had a $620 beginning balance. In addition, there were no collections during the period.

a. Set up a T account for Accounts Receivable and T accounts for the four accounts needed in the customer ledger.

b. Post to the T accounts.

c. Determine the balance in the accounts.

d. Prepare an accounts receivable subsidiary ledger at November 30, 2010.

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