Posting transactions to the general ledger and accounts receivable ledger.
GENERAL LEDGER ACCOUNTS
101 Cash, $25,800 Dr. 451 Sales Returns and Allowances
111 Accounts Receivable, $4,100 Dr. 452 Sales Discounts
401 Sales
ACCOUNTS RECEIVABLE LEDGER ACCOUNTS
Annie’s Flowers Orange County Florist $1,200
Cancino’s Flower Shop Rosa’s Flowers and Gifts
Grand Party Supply White Lily Florists, Inc. $2,900
Miyata Floral Designs
INSTRUCTIONS
1. Open the general ledger accounts and accounts receivable ledger accounts indicated below. Enter the balances as of May 1, 2016.
2. Post the entries from the general journal in Problem 7.4B to the appropriate accounts in the general ledger and in the accounts receivable ledger.
In Problem 7.4b
DATE TRANSACTIONS
2016
May 1 Sold floral arrangements for $450 to Annie’s Flowers; issued Invoice
9312 with terms of 2/10, n/30.
4 Received a check for $1,176 from Orange County Florist in payment of Invoice 9299 of April 25 ($1,200), less cash discount ($24).
6 Sold merchandise totaling $925 in cash to a new customer who has not yet established credit.
7 $25 of merchandise sold on May 6 is returned for a cash refund.
8 Sold floral arrangements for $1,500 to Rosa’s Flowers and Gifts; issued Invoice 9313 with terms of 2/10, n/30.
10 Received payment from Annie’s Flowers in payment of Invoice 9312, less cash discount.
14 Gave Rosa’s Flowers and Gifts an allowance because of withered flowers discovered in one of the floral arrangements sold on May 8, Invoice 9313; issued Credit Memorandum 109 for $200.
17 Received payment from Rosa’s Flowers and Gifts for the sale of May 8, less the return on May 14; Rosa’s Flowers and Gifts deducted the appropriate cash discount from their payment.
19 Received a check for $2,900 as payment in full from White Lily Florists, Inc. Invoice 9279 dated April 20.
20 Sold table arrangements to Grand Party Supply; issued Invoice 9314 for $580 with terms of 2/10, n/30.
24 Sold roses to Miyata Floral Designs for $480; issued Invoice 9315 with terms of 2/10, n/30.
26 Sold potted plants to Cancino’s Flower Shop for $850; issued Invoice 9316 with terms of 2/10, n/30.
27 Accepted a return of damaged roses from Miyata Floral Designs; issued Credit Memorandum 110 for $48. The original sale was made on Invoice 9315 on May 24.
29 Received payment from Grand Party Supply for the sale of May 20, less cash discount.
30 Sold plants for $1,200 to White Lily Flowers, Inc.; issued Invoice 9317 with terms of 2/10, n/30.

3. Prepare a schedule of accounts receivable. Compare the balance of the Accounts Receivable control account with the total of the schedule.
Analyze: What were total sales on account in May, prior to any returns, allowances, or discounts?