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Prepare a cash receipts journal based on the information given below and post it to the Accounts Receivable Subsidiary Ledger.

On Nov 17, Ms. Don & Co. received $1,450 from Gains Graze to apply on account. The source document for this transaction is Receipt 30.

Instructions:

1. Prepare a sales journal entry based on the information given above and post it to the Accounts Receivable General Ledger account and to the Accounts Receivable Subsidiary Ledger. (Use November 7 for this transaction date.)
2. Enter the above transaction (Nov 17) into the Cash Receipts Journal and post it to the Accounts Receivable General Ledger account and to the Accounts Receivable Subsidiary Ledger.

3. Prepare a Schedule of Accounts Receivable and check to see that the total agrees with the Accounts Receivable ledger account.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9801055

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