need answer for all with all working Galactic Corporation had the following transactions in June: Read the Requirement 1. Journalize the transactions. Ignore Cost of Goods Sold. Omit explanations. (Record debits first, then credits. Exclude explanations from journal entries.) Accounts ReceivableSales RevenueControl Account-Accounts ReceivableAccounts Receivable-DelvoRequirement 3. Verify the ending balance in the control Accounts Receivable equals the sum of the balances in the subsidiary ledger. (Complete all answer boxes. Enter a "0" for any zero balances.)Subsidiary Ledger:Cody CompanyDelvo CompanyIvy CompanyTotalAccounts Receivable-Ivy iMore InfoJun. 1612Sold merchandise inventory on account to Cody Company, $1,485.Sold merchandise inventory for cash, $730.Received cash from Cody Company in full settlement of its accountsreceivable.20 Sold merchandise inventory on account to Ivy Company, $950.Sold merchandise inventory on account to Delvo Company, $150.2228Received cash from Ivy Company in partial settlement of its accountsreceivable, $400.xRequirement 2. Post the transactions to the general ledger and the accounts receivable subsidiary ledger. Assume all beginning balances are $0.Post the transactions to both the general ledger and accounts receivable subsidiary ledger accounts and then calculate the ending balance of each account. Denote the ending account balance as Bal. (Enter a "0" onthe normal side of the account for any zero balances.)Review the journal entries prepared in Requirement 1.GENERAL LEDGERCashSUBSIDIARY LEDGERAccounts Receivable-Cody

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Description: need answer for all with all working Galactic Corporation had the following transactions in June: Read the Requirement 1. Journalize the transactions. Ignore Cost of Goods Sold. Omit explanations. (Record debits first, then credits. Exclude explana

The account receivables represent the amount due from the customers. The account receivables has…

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More Info I Jun. 1 6 12 Received cash from Cody Company in full settlement of its accounts receivable. Sold merchandise inventory on account to Cody Company, $1,485. Sold merchandise inventory for cash, $730. 20 Sold merchandise inventory on account to Ivy Company, $950. 22 Sold merchandise inventory on account to Delvo Company, $150. 28 Received cash from Ivy Company in partial settlement of its accounts receivable, $400. Requirement 2. Post the transactions to the general ledger and the accounts receivable subsidiary ledger. Assume all beginning balances are $0. ost the transactions to both the general ledger and accounts receivable subsidiary ledger accounts and then calculate the ending balance of each account. Denote the ending account balance as Bal. (Enter a he normal side of the account for any zero balances.) eview the journal entries prepared in Requirement 1.

More Info I Jun. 1 6 12 Received cash from Cody Company in full settlement of its accounts receivable. Sold merchandise inventory on account to Cody Company, $1,485. Sold merchandise inventory for cash, $730. 20 Sold merchandise inventory on account to Ivy Company, $950. 22 Sold merchandise inventory on account to Delvo Company, $150. 28 Received cash from Ivy Company in partial settlement of its accounts receivable, $400. Requirement 2. Post the transactions to the general ledger and the accounts receivable subsidiary ledger. Assume all beginning balances are $0. ost the transactions to both the general ledger and accounts receivable subsidiary ledger accounts and then calculate the ending balance of each account. Denote the ending account balance as Bal. (Enter a he normal side of the account for any zero balances.) eview the journal entries prepared in Requirement 1.

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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