CAN SOMEONE HELP ME MAKE A BALANCE TABLE?   Oriole Company’s chart of accounts includes the following selected accounts. 101   Cash   401   Sales Revenue 112   Accounts Receivable   414   Sales Discounts 120   Inventory   505   Cost of Goods Sold 301   Owner’s Capital         On April 1, the accounts receivable ledger of Oriole Company showed the following balances: Morrow $1,510, Rose $1,160, Jennings Co. $2,870, and Dent $2,550. The April transactions involving the receipt of cash were as follows. Apr. 1   The owner, T. Oriole, invested additional cash in the business $7,200. 4   Received check for payment of account from Dent less 2% cash discount. 5   Received check for $970 in payment of invoice no. 307 from Jennings Co. 8   Made cash sales of merchandise totaling $7,200. The cost of the merchandise sold was $4,320.00. 10   Received check for $610 in payment of invoice no. 309 from Morrow. 11   Received cash refund from a supplier for damaged merchandise $790. 23   Received check for $1,040 in payment of invoice no. 310 from Jennings Co. 29   Received check for payment of account from Rose (no cash discount allowed).

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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CAN SOMEONE HELP ME MAKE A BALANCE TABLE?

 

Oriole Company’s chart of accounts includes the following selected accounts.

101   Cash   401   Sales Revenue
112   Accounts Receivable   414   Sales Discounts
120   Inventory   505   Cost of Goods Sold
301   Owner’s Capital        


On April 1, the accounts receivable ledger of Oriole Company showed the following balances: Morrow $1,510, Rose $1,160, Jennings Co. $2,870, and Dent $2,550. The April transactions involving the receipt of cash were as follows.

Apr. 1   The owner, T. Oriole, invested additional cash in the business $7,200.
4   Received check for payment of account from Dent less 2% cash discount.
5   Received check for $970 in payment of invoice no. 307 from Jennings Co.
8   Made cash sales of merchandise totaling $7,200. The cost of the merchandise sold was $4,320.00.
10   Received check for $610 in payment of invoice no. 309 from Morrow.
11   Received cash refund from a supplier for damaged merchandise $790.
23   Received check for $1,040 in payment of invoice no. 310 from Jennings Co.
29   Received check for payment of account from Rose (no cash discount allowed).
General Ledger
Accounts Receivable
No. 11
Date
Explanation Ref.
Debit
Credit
Balance
Balance
CR1
Accounts Receivable
Subsidiary Ledger
Morrow
Date
Explanation Ref.
Debit
Credit
Balance
Balance
CR1
Rose
Date
Explanation Ref.
Debit
Credit
Balance
Balance
CR1
Jennings Co.
Date
Explanation Ref.
Debit
Credit
Balance
Balance
CR1
CR1
Dent
Date
Explanation Ref.
Debit
Credit
Balance
Balance
CR1
Transcribed Image Text:General Ledger Accounts Receivable No. 11 Date Explanation Ref. Debit Credit Balance Balance CR1 Accounts Receivable Subsidiary Ledger Morrow Date Explanation Ref. Debit Credit Balance Balance CR1 Rose Date Explanation Ref. Debit Credit Balance Balance CR1 Jennings Co. Date Explanation Ref. Debit Credit Balance Balance CR1 CR1 Dent Date Explanation Ref. Debit Credit Balance Balance CR1
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