Shutterbug Cameras records its transactions in special journals. The accounts receivable subsidiary ledger and certain general ledger accounts are included in your working papers. 

Instructions 

In your working papers: 

1. Record each transaction on page 12 of the sales journal or on page 13 of the cash receipts journal.

2. Post to the customer accounts in the accounts receivable subsidiary ledger on a daily basis.

3. Foot, prove, total, and rule the sales journal.

4. Post the column totals from the sales journal and the cash receipts journal to the general ledger accounts named in the column headings.

5. Prepare a schedule of accounts receivable.

Transcribed Image Text:

Date Transactions May 1 Sold merchandise on account to Yoko Nakata, $500 plus 4% sales tax of $20, Sales Slip 220. 3 Cash sales totaled $1,500 plus $60 in sales tax, Tape 10. Cash sales totaled $200 plus $8 in sales tax, Tape 11. 7 9 Sold merchandise on account to Heather Sullivan for $100 plus sales tax of $4, Sales Slip 223. 12 Cash sales totaled $400 plus $16 in sales tax, Tape 12. 15 Sold $3,000 in merchandise on account to Fast Forward Productions plus sales tax of $120, Sales Slip 225. 18 Sold merchandise on account to Yoko Nakata, $200 plus sales tax of $8, Sales Slip 226.