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Journalizing Sales Returns and Allowances Selected transactions are shown: June 1   John B. Abramowitz returned merchandise previously purchased on account (Sale No. 329), $76. 6   Marie L. Perez returned merchandise previously purchased on account (Sale No. 321), $41. 8   L. B. Gruder returned merchandise previously purchased on account (Sale No. 299), $28. Post the transactions to the appropriate general ledger and accounts receivable ledger accounts

Journalizing Sales Returns and Allowances Selected transactions are shown: June 1   John B. Abramowitz returned merchandise previously purchased on account (Sale No. 329), $76. 6   Marie L. Perez returned merchandise previously purchased on account (Sale No. 321), $41. 8   L. B. Gruder returned merchandise previously purchased on account (Sale No. 299), $28. Post the transactions to the appropriate general ledger and accounts receivable ledger accounts

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Journalizing Sales Returns and Allowances

Selected transactions are shown:

June 1   John B. Abramowitz returned merchandise previously purchased on account (Sale No. 329), $76.
6   Marie L. Perez returned merchandise previously purchased on account (Sale No. 321), $41.
8   L. B. Gruder returned merchandise previously purchased on account (Sale No. 299), $28.

Post the transactions to the appropriate general ledger and accounts receivable ledger accounts.

ADDRESS 3201 West Judkins Road, Seattle, WA 98201-1079 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- June 1 Balance 810.00 NAME Marie L. Perez ADDRESS 158 West Adams Point, Bellevue, WA 98401-0663 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- June 1 Balance 1,021.00 NAME L. B. Gruder ADDRESS 44 Western Blvd., Spokane, WA 98601-4092 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- June 1 Balance 448.00
Transcribed Image Text:ADDRESS 3201 West Judkins Road, Seattle, WA 98201-1079 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- June 1 Balance 810.00 NAME Marie L. Perez ADDRESS 158 West Adams Point, Bellevue, WA 98401-0663 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- June 1 Balance 1,021.00 NAME L. B. Gruder ADDRESS 44 Western Blvd., Spokane, WA 98601-4092 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- June 1 Balance 448.00
2. Post the transactions to the appropriate general ledger and accounts receivable ledger accounts. GENERAL LEDGER ACCOUNT Accounts Receivable ACCOUNT NO. 122 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- June 1 Balance 4,170.00 June 1 J60 June 6 v J60 June 8 J60 ACCOUNT Sales Returns and Allowances ACCOUNT NO. 401.1 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- ACCOUNTS RECEIVABLE LEDGER NAME John B. Abramowitz ADDR ESS 2201 VWest 1udkins Read Seattle WA O o201-1 070
Transcribed Image Text:2. Post the transactions to the appropriate general ledger and accounts receivable ledger accounts. GENERAL LEDGER ACCOUNT Accounts Receivable ACCOUNT NO. 122 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- June 1 Balance 4,170.00 June 1 J60 June 6 v J60 June 8 J60 ACCOUNT Sales Returns and Allowances ACCOUNT NO. 401.1 BALANCE DATE ITEM POST. REF. DEBIT CREDIT DEBIT CREDIT 20-- ACCOUNTS RECEIVABLE LEDGER NAME John B. Abramowitz ADDR ESS 2201 VWest 1udkins Read Seattle WA O o201-1 070
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