Review your results from Short Exercise SC 6 Requirements 1 Total each column of the cash receipts journal 2 Open the following four column accounts in the accounts receivable subsidiary ledger Accounts ReceivableDexter, Bal $5,475 Accounts ReceivableNord, Bal $1,100 Post the transactions to the ac...

Requirement 1 In Exercise 7 Cash Receipts Journal Page 3 Date Account Credited Post Ref Cash DR Sale ...

Review your results from Short Exercise SC-6. Requirements 1. Total each column of the cash receipts journal.

Question:

Review your results from Short Exercise SC-6.
Requirements
1. Total each column of the cash receipts journal.
2. Open the following four-column accounts in the subsidiary ledger: Accounts Receivable—Dexter, Bal. $5,475; Accounts Receivable—Nord, Bal. $1,100. Post the transactions to the subsidiary ledger.
3. Open the following selected four-column accounts in the general ledger: Cash (111), Bal. $5,000; (112), Bal. $6,575; Merchandise Inventory (118), Bal. $3,000; Sales Revenue (411), Bal. $23,000; Sales Discounts (412); Interest Revenue (419); Cost of Goods Sold (511), Bal. $13,800. Post the total of each column to the general ledger. Also, post the Other Accounts to the general ledger.
4. Balance the total of the customer balances in the subsidiary ledger against in the general ledger. 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...