Morales Company recorded the following selected transactions during Exercise 7-2 November 2008. Nov. 5 Accounts ReceivableSki Shop

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Morales Company recorded the following selected transactions during Exercise 7-2 November 2008.

Nov. 5 Accounts Receivable—Ski Shop . . . . . . . . . . . . . . . . 4,615 Sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,615 10 Accounts Receivable—Welcome Enterprises . . . . . . . 1,350 Sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,350 13 Accounts Receivable—Zia Natara . . . . . . . . . . . . . . . 832 Sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 832 21 Sales Returns and Allowances . . . . . . . . . . . . . . . . . . 209 Accounts Receivable—Zia Natara . . . . . . . . . . . 209 30 Accounts Receivable—Ski Shop . . . . . . . . . . . . . . . . 2,713 Sales. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,713 1 Open a general ledger having T-accounts for Accounts Receivable, Sales, and Sales Returns and Allowances. Also open an accounts receivable subsidiary ledger having a T-account for each customer.
Post these entries to both the general ledger and the accounts receivable ledger.
2 Prepare a schedule of accounts receivable (see Exhibit 7.4) and compare its total with the balance of the Accounts Receivable controlling account as of November 30.

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