On September 1, the balance of the Accounts Receivable control account in the general ledger of Zhao

Question:

On September 1, the balance of the Accounts Receivable control account in the general ledger of Zhao Foods was ¥10,960 (amounts in thousands). The customers’ subsidiary ledger contained account balances as follows: Chang ¥1,440, Wu ¥2,640, Fung ¥2,060, and Tumen ¥4,820. At the end of September, the various journals contained the following information.

Sales journal: Sales to Tumen ¥800, to Chang ¥1,260, to Tamsui ¥1,330, and to Fung ¥1,600.
Cash receipts journal: Cash received from Fung ¥1,310, from Tumen ¥3,300, from Tamsui ¥380, from Wu ¥1,800, and from Chang ¥1,240.
General journal: An allowance is granted to Tumen ¥220.

Instructions
a. Set up control and subsidiary accounts and enter the beginning balances. Do not construct the journals.
b. Post the various journals. Post the items as individual items or as totals, whichever would be the appropriate procedure. (No sales discounts given.)
c. Prepare a schedule of accounts receivable and prove the agreement of the controlling account with the subsidiary ledger at September 30, 2020.

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...

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