Kate Collins has opened Fontina and Stuff, a wholesale grocery and cheese company. The following transactions occurred

Question:

Kate Collins has opened Fontina and Stuff, a wholesale grocery and cheese company. The following transactions occurred in February:
201X
Feb. 1 Sold grocery merchandise to Fran Co. on account, $850, invoice no. 1.
4 Sold cheese merchandise to Groom Co. on account, $1,100, invoice no. 2.
8 Sold grocery merchandise to Dutch Co. on account, $1,100, invoice no. 3.
10 Issued credit memorandum no. 1 to Fran Co. for $160 of grocery merchandise returned due to spoilage.
15 Sold cheese merchandise to Groom Co. on account, $250, invoice no. 4.
19 Sold grocery merchandise to Dutch Co. on account, $650, invoice no. 5.
25 Sold cheese merchandise to Fran Co. on account, $700, invoice no. 6.
Required
1. Journalize the transactions.
2. Record to the subsidiary ledger and post to the general ledger as appropriate.
3. Prepare a schedule of for the end of February?
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...