Abby Ellen owns Abby’s Toy House in Halifax. As her newly hired accountant, your task is to:
a. Journalize the transactions for the month of March. b. Record in subsidiary ledgers and post to the general ledger as appropriate.
c. Total, rule, and cross-foot the journals.
d. Prepare a schedule of accounts receivable and a schedule of accounts payable, as of March 31, 2013.
Please substitute HST at 13% for GST at 5% if your instructor so directs.
The following is the partial chart of accounts for Abby’s Toy House: