Using your solution to Problem 11-1A, prove the accuracy of the accounts receivable subsidiary ledger by preparing a schedule of accounts receivable as of April 30.

Problem 11-1A:

Sales journal and accounts receivable subsidiary ledger Wiset Company completes the following transactions during April, its first month of operations. A tax rate of 8% applies to all sales.
Apr.

3 Sold \($4,000\) of merchandise on credit to Page Alistair, Invoice No. 760.
5 Sold \($8,000\) of merchandise on credit to Paula Kohr, Invoice No. 761.
11 Sold \($10,500\) of merchandise on credit to Nic Nelson, Invoice No. 762.
13 Sold \($5,100\) of merchandise on credit to Page Alistair, Invoice No. 763.
27 Sold \($3,170\) of merchandise on credit to Paula Kohr, Invoice No. 764.
27 Sold \($6,700\) of merchandise on credit to Nic Nelson, Invoice No. 765.
Required 

1. Prepare a sales journal like that in Exhibit 11.6. Number the sales journal page as page 3. Enter the transactions in the sales journal.
2. Open the following general ledger accounts: Accounts Receivable, Sales Tax Payable, and Sales.
Also open accounts receivable subsidiary ledger accounts for Paula Kohr, Page Alistair, and Nic Nelson. Post the transactions to the subsidiary ledger accounts. Prepare the month-end postings to the general ledger accounts.

Transcribed Image Text:

Sales Journal Date Page 3 x Exhibit 11.6 Account Invoice Accounts Sales Tax Sales Debited Number PR Receivable Dr. Payable Cr. Cr. Sales Journal Example Nov. 3 358125722 Bradford Inc. 145 2,544 144 2,400 Smith Inc. 146 1,113 63 1,050 Cluff Inc. 147 265 15 250 11 Dobson Inc. 148 583 33 550 Taylor Inc. 149 1,431 81 1,350 Burns Inc. 150 636 36 600 Smith Inc. 151 1,484 84 1,400 Dobson Inc. 152 1,272 72 1,200 Taylor Inc. 153 318 18 300