Homework Help is Here – Start Your Trial Now!
Business
Accounting
GENERAL JOURNAL Page 52         DATE DESCRIPTION POST. REF. DEBIT CREDIT   1 20--         1 2 August  16   Sales Returns and Allowances 412 286.42     2 3       Accounts Receivable, F. E. Dixon 113/✓   286.42   3 4           Issued credit memo no. 131.       4 5           5 Post the entry above to this general ledger account. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent.                                                           GENERAL LEDGER ACCOUNT RECEIVABLE                                                     ACCOUNT NO: 113 PLEASE SEE ATTACHED IMAGES (HW 100 AND 101)

GENERAL JOURNAL Page 52         DATE DESCRIPTION POST. REF. DEBIT CREDIT   1 20--         1 2 August  16   Sales Returns and Allowances 412 286.42     2 3       Accounts Receivable, F. E. Dixon 113/✓   286.42   3 4           Issued credit memo no. 131.       4 5           5 Post the entry above to this general ledger account. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent.                                                           GENERAL LEDGER ACCOUNT RECEIVABLE                                                     ACCOUNT NO: 113 PLEASE SEE ATTACHED IMAGES (HW 100 AND 101)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question
100%
GENERAL JOURNAL
Page 52    
 
  DATE DESCRIPTION POST.
REF.		 DEBIT CREDIT  
1 20--         1
2 August  16   Sales Returns and Allowances 412 286.42     2
3       Accounts Receivable, F. E. Dixon 113/✓   286.42   3
4           Issued credit memo no. 131.       4
5           5

Post the entry above to this general ledger account. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent.

                                                          GENERAL LEDGER

ACCOUNT RECEIVABLE                                                     ACCOUNT NO: 113

PLEASE SEE ATTACHED IMAGES (HW 100 AND 101)

**Accounts Receivable Ledger Example** To manage financial records efficiently, entries must be accurately posted to an accounts receivable subsidiary ledger account. Below is an illustrative template for such a ledger. --- **ACCOUNT RECEIVABLE LEDGER** - **Name:** F. E. Dixon - **Address:** - 416 Fifth Avenue - Dallas, TX 75204 | Date | Item | Post Ref. | Debit | Credit | Balance | |------------|------|-----------|----------|--------|---------| | 20-- | | | | | | | July 31 | | J51 | 460.15 | | 460.15 | | August 16 | | J52 | | | | **Instructions:** - Post the entry from the general journal into the specific ledger presented above. - If any field does not require an entry, keep it blank. - Ensure all monetary entries are rounded to the nearest cent. This ledger format helps in tracking and managing individual account balances, assisting businesses in maintaining accurate financial records.
Transcribed Image Text:**Accounts Receivable Ledger Example** To manage financial records efficiently, entries must be accurately posted to an accounts receivable subsidiary ledger account. Below is an illustrative template for such a ledger. --- **ACCOUNT RECEIVABLE LEDGER** - **Name:** F. E. Dixon - **Address:** - 416 Fifth Avenue - Dallas, TX 75204 | Date | Item | Post Ref. | Debit | Credit | Balance | |------------|------|-----------|----------|--------|---------| | 20-- | | | | | | | July 31 | | J51 | 460.15 | | 460.15 | | August 16 | | J52 | | | | **Instructions:** - Post the entry from the general journal into the specific ledger presented above. - If any field does not require an entry, keep it blank. - Ensure all monetary entries are rounded to the nearest cent. This ledger format helps in tracking and managing individual account balances, assisting businesses in maintaining accurate financial records.
### General Ledger Transcription for Educational Purposes #### Example of General Ledger Entries --- **Table 1: General Ledger Account for [unspecified account]** - **Date:** August 1 - **Item:** Balance - **Post. Ref.:** ✓ - **Balance:** Debit: $5,214.36 - **Date:** August 16 - **Post. Ref.:** J52 - **Debit:** [Blank] - **Credit:** [Blank] *Instructions:* Post the entry above to this general ledger account. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. --- **Table 2: General Ledger Account for Sales Returns and Allowances** - **Account No.:** 412 - **Date:** August 1 - **Item:** Balance - **Post. Ref.:** ✓ - **Balance:** Debit: $218.40 - **Date:** August 16 - **Post. Ref.:** J52 - **Debit:** [Blank] - **Credit:** [Blank] --- These tables illustrate typical entries in a general ledger, depicting how to document account balances at the beginning of a period and how to enter transactions.
Transcribed Image Text:### General Ledger Transcription for Educational Purposes #### Example of General Ledger Entries --- **Table 1: General Ledger Account for [unspecified account]** - **Date:** August 1 - **Item:** Balance - **Post. Ref.:** ✓ - **Balance:** Debit: $5,214.36 - **Date:** August 16 - **Post. Ref.:** J52 - **Debit:** [Blank] - **Credit:** [Blank] *Instructions:* Post the entry above to this general ledger account. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent. --- **Table 2: General Ledger Account for Sales Returns and Allowances** - **Account No.:** 412 - **Date:** August 1 - **Item:** Balance - **Post. Ref.:** ✓ - **Balance:** Debit: $218.40 - **Date:** August 16 - **Post. Ref.:** J52 - **Debit:** [Blank] - **Credit:** [Blank] --- These tables illustrate typical entries in a general ledger, depicting how to document account balances at the beginning of a period and how to enter transactions.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Credit Cards
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS