Sandra Hills has opened Macchiato and More, a wholesale grocery and coffee company. The following transactions occurred in June:
201X
June 1 Sold grocery merchandise to Fran Co. on account, $700, invoice no. 1.
4 Sold coffee merchandise to Groom Co. on account, $650, invoice no. 2.
8 Sold grocery merchandise to Dutch Co. on account, $750, invoice no. 3.
10 Issued credit memorandum no. 1 to Fran Co. for $170 of grocery merchandise returned due to spoilage.
15 Sold coffee merchandise to Groom Co. on account, $700, invoice no. 4.
19 Sold grocery merchandise to Dutch Co. on account, $700, invoice no. 5.
25 Sold coffee merchandise to Fran Co. on account, $400, invoice no. 6.
Required
1. Journalize the transactions.
2. Record to the accounts receivable subsidiary ledger and post to the general ledger as appropriate.
3. Prepare a schedule of accounts receivable for the end of June.