At December 31, 2024, the general ledger and subsidiary ledger for Sunland, a small auto parts store, showed the following: Accounts Receivable General Ledger Subsidiary Ledger Accounts receivable $73,700 Best Auto Repair $3,500 Allowance for doubtful accounts 4,200 Brown's Repair 23,000 Custom Repair ° Jen's Auto Body 34,000 Luxury Autos 13,200 Total $73,700 Jan. 3 Brown's Repair paid $19,200 on its account. 4 Custom Repair paid $1,200 on its account that had previously been written off. 8 Jen's Auto Body purchased $3,600 of merchandise on account. Antique Auto Repair paid cash for $1.100 of merchandise
At December 31, 2024, the general ledger and subsidiary ledger for Sunland, a small auto parts store, showed the following: Accounts Receivable General Ledger Subsidiary Ledger Accounts receivable $73,700 Best Auto Repair $3,500 Allowance for doubtful accounts 4,200 Brown's Repair 23,000 Custom Repair ° Jen's Auto Body 34,000 Luxury Autos 13,200 Total $73,700 Jan. 3 Brown's Repair paid $19,200 on its account. 4 Custom Repair paid $1,200 on its account that had previously been written off. 8 Jen's Auto Body purchased $3,600 of merchandise on account. Antique Auto Repair paid cash for $1.100 of merchandise
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:At December 31, 2024, the general ledger and subsidiary ledger for Sunland, a small auto parts store, showed the following:
Accounts Receivable
General Ledger
Subsidiary Ledger
Accounts receivable
$73,700
Best Auto Repair
$3,500
Allowance for doubtful accounts
4,200
Brown's Repair
23,000
Custom Repair
°
Jen's Auto Body
34,000
Luxury Autos
13,200
Total
$73,700
Jan. 3
Brown's Repair paid $19,200 on its account.
4
Custom Repair paid $1,200 on its account that had previously been written off.
8
Jen's Auto Body purchased $3,600 of merchandise on account.
Antique Auto Repair paid cash for $1.100 of merchandise
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