At the end of the of May, the sales journal of Horizons appears as follow: Date Customers (debtors) Invoice No. Amount May 6 10 17 25 Smith Harris Buck Harris 3,880 2,940 1,850 1,340 31 Total 10,010 Horizon also record the returns of some merchandise with the following Sales Return Journal: Date Customers (debtors) Invoice No. Amount May 9 May 20 Smith Harris 400 350 31 Total 750 Required: A. Prepare an Account Receivable subsidiary ledger (customer accounts) and post all the entries from the journals. B. prepare General ledger from the above journals.
At the end of the of May, the sales journal of Horizons appears as follow: Date Customers (debtors) Invoice No. Amount May 6 10 17 25 Smith Harris Buck Harris 3,880 2,940 1,850 1,340 31 Total 10,010 Horizon also record the returns of some merchandise with the following Sales Return Journal: Date Customers (debtors) Invoice No. Amount May 9 May 20 Smith Harris 400 350 31 Total 750 Required: A. Prepare an Account Receivable subsidiary ledger (customer accounts) and post all the entries from the journals. B. prepare General ledger from the above journals.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
At the end of the of May, the sales journal of Horizons appears as follow:
|
Date |
Customers (debtors) |
Invoice No. |
Amount |
|
May 6 10 17 25 |
Smith Harris Buck Harris |
|
3,880 2,940 1,850 1,340 |
|
31 |
Total |
|
10,010 |
Horizon also record the returns of some merchandise with the following Sales Return Journal:
|
Date |
Customers (debtors) |
Invoice No. |
Amount |
|
May 9 May 20 |
Smith Harris
|
|
400 350
|
|
31 |
Total |
|
750 |
Required:
A. Prepare an Account Receivable subsidiary ledger (customer accounts) and post all the entries from the journals.
B. prepare General ledger from the above journals.
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