SCHEDULE OF ACCOUNTS RECEIVABLE Based on the information provided in Problem 10-11A, prepare a schedule of accounts receivable for Sourk Distributors as of March 31, 20--. Verify that the accounts receivable account balance in the general ledger agrees with the schedule of accounts receivable total.

Transactions related to revenue and cash receipts completed by Crowne Business Services Co. during the period April 230 are as follows: Post revenue and collections to the accounts receivable subsidiary ledger. Instructions 1. Insert the following balances in the general ledger as of April 1: 2. Insert the following balances in the accounts receivable subsidiary ledger as of April 1: 3. Prepare a single-column revenue journal (p. 40) and a cash receipts journal (p. 36). Use the following column headings for the cash receipts journal: Fees Earned Cr., Accounts Receivable Cr., and Cash Dr. The Fees Earned column is used to record cash fees. Insert a check mark () in the Post. Ref. column when recording cash fees. 4. Using the two special journals and the two-column general journal (p. 1), journalize the transactions for April. Post to the accounts receivable subsidiary ledger, and insert the balances at the points indicated in the narrative of transactions. Determine the balance in the customers account before recording a cash receipt. 5. Total each of the columns of the special journals and post the individual entries and totals to the general ledger. Insert account balances after the last posting. 6. Determine that the sum of the customer balances agrees with the accounts receivable controlling account in the general ledger. 7. Why would an automated system omit postings to a controlling account as performed in step 5 for Accounts Receivable?

provide the GENERAL JOURNAL only note: The computation of Vat is for purchases and sales merchandising inventory only. note: The business pays its supplier through issuing checks.

answer the following

ILLUSTRATIVE EXAMPLE Record the following credit purchases transactions in the Creditors Journal of Topsy Traders for July 2010. Post to the relevant ledger accounts in the General Ledger and the Creditors Ledger. Prepare a creditors list on 31 July 2010. Balances/Totals on 1 July 2010: Creditors control... R23 100 Trading stock Equipment.. Consumable stores R17 500 R35 000 R4 000 Repairs Stationery R8 500 RI 390 List of Creditors on 30 June 2010: R10 000 Longwane Suppliers. Richy Dealers... ww Wholesalers. R12 000 R1 100- Transactions: July 2010 Purchased the following from Richy Dealers and received credit invoice no. XX413: 6. R1 300 trading goods.. • stationery R220 10. Longwane Suppliers delivered the following per credit invoice no. 7865: merchandise R1 500 Office computer R5 400 NB: A trade discount of 10% must be deducted on merchandise supplied and thereafter R200 must be included for carriage on purchases. Office computer is not subject to carriage and trade discount. 16. WW…

Required: Prepare the journal entries for these transactions, including the write - off of the uncollectible account and the adjusting entry for estimated bad debts. Do not record cost of goods sold. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar amount.

When a customer returns a product to Hartville Equipment that the customer purchasedon account, Hartville will issue a to authorize a credit to the customer’saccount receivable on Hartville’s books:a. return authorizationb. refund notec. credit memod. manager approval

Describe the nature of the following documents and records andexplain their use in the sales and collection cycle: bill of lading, sales invoice, creditmemo, remittance advice, and monthly statement to customers.

Prepare a trial balance for the selected general ledger accounts and prove the accuracy of subsidiary ledgers by preparing schedules of accounts receivable and accounts payable.