Rita Hayle has opened Food on the Go, a wholesale grocery and pizza company, in Edmonton. The

Question:

Rita Hayle has opened Food on the Go, a wholesale grocery and pizza company, in Edmonton. The following transactions occurred in June:

Required
a. Journalize the transactions in the appropriate journals.
b. Record in the accounts receivable subsidiary ledger and post to the general ledger as appropriate.
c. Prepare a schedule of accounts receivable.

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...