Post the entries in the general journal below to the Accounts Receivable account in the general ledger
Question:
Post the entries in the general journal below to the Accounts Receivable account in the general ledger and to the appropriate accounts in the accounts receivable ledger for Valentino Company. Assume the following account balances at January 1, 20X1:
Use 111 as the account number for Accounts Receivable in the general ledger.
Accounts Receivable (control account) Accounts Receivable-William Hall Accounts Receivable-Jim Garcia Accounts Receivable-June Lin $10,840 6,400 2,260 2,180
Step by Step Answer:
Accounts Receivable control account DATE DESCRIPTION D...View the full answer
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
Students also viewed these Business questions
-
Post the entries in the general journal below to the Accounts Receivableaccount in the general ledger and to the appropriate accounts in the accounts receivable ledger for Calderone Company. Assume...
-
Post the entries in the general journal below to the accounts payable account in the general ledger and to the appropriate accounts in the accounts payable ledger. Assume the following account...
-
Requirements 1. Prepare a schedule of accounts receivable for Calderone Company on January 31, 2019 . 2. Should the total of your accounts receivable schedule agree with the balance of the Accounts...
-
For each polynomial function, find (a) (-1), (b) (2), and (c) (0). f(x) = x + 5x
-
When family businesses began to evolve into chains, what were the major challenges they faced?
-
You have the following information for Van Gogh Inc. for the month ended October 31, 2017. Van Gogh uses a periodic method for inventory. Instructions (a) Calculate (i) Ending inventory , (ii) Cost...
-
DE19-11 Look at Exhibit 19-11 (page 766). What would be Top-Flight's cost of goods sold and operating income if the cost of goods manufactured were $35.000 rather than $42,000? (Other costs and...
-
The following financial statements were prepared on December 31, Year 6. Additional Information: Pearl purchased 80% of the outstanding voting shares of Silver for $3,300,000 on July 1, Year 2, at...
-
Liu Industrial Machines issued 153,000 zero coupon bonds six years ago. The bonds originally had 30 years to maturity with a yield to maturity of 7.3 percent. Interest rates have recently increased,...
-
According to a Los Angeles Times study of more than 1 million medical dispatches from 2007 to 2012, the 911 response time for medical aid varies dramatically across Los Angeles (LA Times website,...
-
(a) When is the Credit Card Expense account debited when a customer uses a bank credit card to pay for a purchase? (b) When is the Card Card Expense account debited when a customer uses an American...
-
On April 1, Moloney Musical Instruments sold merchandise on account to Fronkes Flutes for $7,000 on Invoice 1001, terms 2/10, n/30. Payment was received in full from Fronkes Flutes, less discount, on...
-
How can the Black-Scholes formula not include the expected return on the stock?
-
A company must decide between scrapping or reworking units that do not pass inspection. The company has 16,000 defective units that have already cost $132,000 to manufacture. The units can be sold as...
-
according to the phase rule, the triple point of a pure substance is A. invariant B. u nivariant C. bivariant D. none of the above
-
33. If the equipment in the previous question had sold for $15,000, the correct entry would be: a. Cash debit $15,000. Gain credit $3,000. $12,000 Equipment credit b. Cash debit $15,000. Debit a loss...
-
The banks play a central role in financial intermediation in New Zealand. 1.What is financial intermediation? Who performs it? and why is it important? 2.What is Qualitative Asset transformation...
-
Consider the following information attributed to the material management department Budgeted usage of materials - handling labor - hours 3,700 Budgeted cost pools: Fixed costs $166,500 Variable costs...
-
Find a polar equation for each conic section. Assume one focus is at the origin. 2+G.0) (-2, 0) Directrix
-
Don Griffin worked as an accountant at a local accounting firm for five years after graduating from university. Recently, he opened his own accounting practice, which he operates as a corporation....
-
Describe the major controls for cash receipts.
-
Describe the major controls for cash payments.
-
Describe the major controls for cash payments.
-
Cash from Operating Activities: ______________ Cash from Investing Activities: ______________ Cash from Financing Activities: ______________ Problem 2: Financial Ratios The GAP Macys 1 Current Ratio...
-
On January 1, 2021, Winky Enterprises issued 12% bonds dated January 1, 2021, with a face amount of $2,800,000. The bonds mature in 2030 (10 years). For bonds of similar risk and maturity, the market...
-
Using the following accounts and balances, prepare the stockholders' equity vection of the balance sheet. Pilty thousand shares of common stock are authorised, and 1,000 shares have been recoured,...
Study smarter with the SolutionInn App