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Vail Company recorded the following transactions during November. Date General Journal Debit Credit Nov. 5 Accounts Receivable—Ski Shop 5,201 Sales 5,201 10 Accounts Receivable—Welcome Enterprises 1,209 Sales 1,209 13 Accounts Receivable—Zia Natara 709 Sales 709 21 Sales Returns and Allowances 183 Accounts Receivable—Zia Natara 183 30 Accounts Receivable—Ski Shop 2,521 Sales 2,521 Exercise 7-1 Part 1 1. Prepare a general ledger having T-accounts for Accounts Receivable, Sales, and Sales Returns and Allowances. Post these entries to both the general ledger and the accounts.

Vail Company recorded the following transactions during November. Date General Journal Debit Credit Nov. 5 Accounts Receivable—Ski Shop 5,201 Sales 5,201 10 Accounts Receivable—Welcome Enterprises 1,209 Sales 1,209 13 Accounts Receivable—Zia Natara 709 Sales 709 21 Sales Returns and Allowances 183 Accounts Receivable—Zia Natara 183 30 Accounts Receivable—Ski Shop 2,521 Sales 2,521 Exercise 7-1 Part 1 1. Prepare a general ledger having T-accounts for Accounts Receivable, Sales, and Sales Returns and Allowances. Post these entries to both the general ledger and the 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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Vail Company recorded the following transactions during November. Date General Journal Debit Credit Nov. 5 Accounts Receivable—Ski Shop 5,201 Sales 5,201 10 Accounts Receivable—Welcome Enterprises 1,209 Sales 1,209 13 Accounts Receivable—Zia Natara 709 Sales 709 21 Sales Returns and Allowances 183 Accounts Receivable—Zia Natara 183 30 Accounts Receivable—Ski Shop 2,521 Sales 2,521 Exercise 7-1 Part 1 1. Prepare a general ledger having T-accounts for Accounts Receivable, Sales, and Sales Returns and Allowances. Post these entries to both the general ledger and the accounts.
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