9B-1. Sandra Hills has opened Macchiato and More, a wholesale grocery and coffee company. The following transactions occurred in June: 201x June 1 10 Sold grocery merchandise to Fran Co. on account, 5700, invoice no. 1. The cost of the merchandise was $500. Sold coffee merchandise to Groom Co. on account, 5650, invoice no. 2. The cost of the merchandise was 5475. Sold grocery merchandise to Dutch Co. on account, $750, invoice no 3. The cost of the merchandise was $600. Issued credit memorandum no. 1 to Fran Co. for $170 of grocery merchandise returned due to spoilage. The cost of the merchandise was 590. Sold coffee merchandise to Groom Co. on account, 700, invoice no. 4. The cost of the merchandise was $590. Sold grocery merchandise to Dutch Co. on account, 5700, invoice no. 5. The cost of the merchandise was 5610. Sold coffee merchandise to Fran Co. on account, $400, invoice no. 6. The cost of the merchandise was $280. 25 Required 1. Journalize the transactions. Beginning balances of merchandise inventory is $5,000 for grocery merchandise and $7,000 for coffee. 2. Record to the accounts receivable subsidiary ledger and post to the general ledger as appropriate. 3. Prepare a schedule of accounts receivable for the end of June. MACCHIATO AND MORE MACCHIATO AND MORE GENERAL JOURNAL PAGE 1 Date 2017 Jun. Account Titles and Description Dr. 1 PR 112N 411 Sales Inv. No. 1 on Acct. to Fran 512 117 Cost of merchandise inventory sold 1121 Sales Inv. No. 2 on Acct. to Groom Cost of merchandise inventory sold Sales Inv. No. 3 on Acct. to Dutch 8 512 Cost of merchandise inventory sold 10 412 112N Issued Credit Memo #1 117 512 Cost of merchandise inventory returned 1121 410 Sales Iny. No. 4 on Accuto Groom 511 116 Cost of merchandise inventory sold 1121 411 Sales Inv. No. 5 on Acct. to Dutch Cost of merchandise inventory sold 112N 410 Sales Inv. No 6 on Acct. to Fran 511 Cost of merchandise inventory sold ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER NAME ADDRESS DUTCH CO. 8 JOSS AVE., LYNN, MA 01947 Date Explanation Debit Credit Dr. Balance 201X Jun. 8 Post Ref. GJ1 GJ1 19 NAME ADDRESS FRANCO 942 MOSE ST., REVERE, MA 01938 Date 2017 Explanation Debit Credit Dr. Balance Jun. 1 Post Rel. G1 GJ1 GJ1 NAME ADDRESS GROOM CO. 10 LOST RD., TOPSFIELD, MA 01998 Date Post Ref. Explanation Debit Credit Dr. Balance GJ1 GJ1 MACCHIATO AND MORE GENERAL LEDGER ACCOUNT NO. 112 ACCOUNTS RECEIVABLE Post Explanation Ref. Balance Date 2017 Jun. Debit Credit Debit Credit ACCOUNT NO. 116 COFFEE MERCHANDISE INVENTORY Post Explanation Ref. Balance Date 2017 Debit Credit Debit Credit Jun. 4 15 GJ1 GJ1 GROCERY MERCHANDISE INVENTORY ACCOUNT NO. 117 Explanation Ref. Balance Date 2017 Debit Credit Debit Credit GJ1 GJ1 Jun. 11 G1 GJ1 COFFEE SALES ACCOUNT NO. 410 Balance Date 201X Explanation Post Rel. GJ1 Debit Credit Debit Credit GJ1 GJ1 ACCOUNT NO. 411 GROCERY SALES Post Explanation Ref. Balance Date 2017 Debit Credit Debit Credit Jun G. SALES RETURNS AND ALLOWANCES ACCOUNT NO. 412 Post Explanation Ref. Balance Date 201X Jun. 10 Debit Credit Debit Credit GJ1 ACCOUNT NO. 512 GROCERY COST OF GOODS SOLD Post Explanation Ref. Balance Date 2017 Debe Credit Debit Credit G MACCHIATO AND MORE SCHEDULE OF ACCOUNTS RECEIVABLE JUNE 30, 2017 Dutch Co Franco Groom Co Total Accounts Receivable
