Question

Accounts receivable subsidiary ledger, schedule of accounts receivable lo c1. Vali company recorded the following selected transactions during November current year.
Nov 5. accounts receivable ski shop 4,338 debit.Sales credit 4,338.
10 . Acc receivable welcome enterprises 1,427. Sales 1,427.
13. Acc receivable zia natara 837. Sales 837.
21. Sales returns and allowances . Accounts receivable zia natara.debit 216. Accounts receivable Zia Natara credit 216.
30. Acc receivable Ski shop. debit 2,975 sales 2,975.
Prepare a general ledger having T accounts for Accounts receivable ,sales,sales returns and allowances .Post these entries to both the general ledger and the accounts receivable ledger.
Prepare a schedule of accounts receivable.

Answer 1

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Accounts Receivable

Sales

Sales Return and allowance

Debit

Credit

Debit

Credit

Debit

Credit

Nov 5

$                    4,338

Nov 21

$        216

Nov 5

$    4,338

Nov 21

$        216

Nov 10

$                    1,427

Nov 10

$    1,427

Nov 13

$                       837

Nov 13

$        837

Nov 30

$                    2,975

Ending Balance

$                    9,361

Ending Balance

$    6,602

Ending Balance

$        216

Accounts Receivable Schedule:

Ski Shop

$4,338+$2,975

$    7,313

Welcome Enterprise

$    1,427

Zia Natara

$837-$216

$        621

Total

$    9,361