Post the entries in the general journal below to the Accounts Receivable account in the general ledger and to the appropriateaccounts in the accounts receivable ledger for Calderone Company.Assume the following account balances at January 1, 20X1:Accounts Receivable (control account)Accounts Receivable-John Gibrone$8,8805,600Accounts Receivable-Jim Garcia2,180Accounts Receivable-June Lin1,100DATE20X1Jan. 8CashGENERAL JOURNALDESCRIPTIONPOST.REF.DEBIT CREDIT560560Accounts Receivable/John GibroneReceived partial payment onaccount from John Gibrone20 Sales Returns and AllowancesSales Tax PayableAccounts Receivable/Jim GarciaAccept return of defectivemerchandise, CreditMemorandum 121; original salemade on Sales Slip 11102 ofJanuary 2, 20X130024324Required:1. Prepare a schedule of accounts receivable for Calderone Company at January 31, 20X1.2. Should the total of your accounts receivable schedule agree with the balance of the Accounts Receivable account in the generalledger at January 31, 20X1?

1) To prepare schedule of accounts receivable:…

Answered: Post the entries in the general journal…

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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Show the balance sheet presentation of the receivable accounts at July 31. A Blossom Company Balance Sheet (Partial) $ $
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