Chapter 9, Problem 1E

To determine

Schedule of Accounts Receivable:

Schedule of accounts receivable shows all the accounts receivable of a company under statement.

1. Open a general ledger having T-accounts for Accounts Receivables, Sales, and Sales Returns and Allowances. Open an accounts receivable subsidiary ledger having a T-account for each of its three customers and post the journal entries to both the general ledger and accounts receivable ledger.

2. Prepare a schedule of accounts receivable and compare its total with balance of the accounts receivable controlling account as of November 30.