Winslow Company posts its sales invoices directly and then binds them into a Sales Journal. Winslow had the following credit sales to these customers during June.
|
June 2 |
Joe Mack |
$ 3,600 |
|
8 |
Eric Horner |
6,100 |
|
10 |
Tess Wilson |
13,400 |
|
14 |
Hong Jiang |
20,500 |
|
20 |
Tess Wilson |
11,200 |
|
29 |
Joe Mack |
7,300 |
|
|
Total credit sales |
$62,100 |
Required
1. Open an accounts receivable subsidiary ledger having a T account for each customer. Post the invoices to the subsidiary ledger.
2. Open an Accounts Receivable controlling T account and a Sales T account to reflect general ledger accounts. Post the end of month total from the sales journal to these accounts.
3. Prepare a schedule of accounts receivable and prove that its total equals the Accounts Receivable controlling account balance.