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At the end of May, the sales Journal of Mountain View appears as follows Assume beginning inventory balance for May PR Data May 6 10
At the end of May, the sales Journal of Mountain View appears as follows Assume beginning inventory balance for May PR Data May 6 10 Account Debited Aaron Reckers Sara Reed Anna Page Sara Reed Totals Invoice Number 190 191 192 193 accounts Receivable Dr. Sales Cr. 4,290 3,350 1,491 596 9,727 Cost of Goods Sold Dr. Inventory Cr. 3,260 2,764 877 350 7,251 25 31 Mountain View also recorded the return of defective merchandise with the following entry. Credit Date May 20 Debit 425 General Journal Sales Returns and allowances Accounts Receivable-Anna Page Customer returned (worthless) merchandise. 425 Required: 1. Post to the customer accounts the entries in the sales journal and any portion of the general journal entry that affec account 2. Post the sales journal and any portion of the general journal entry that affects these accounts. 3. Prepare a schedule of accounts receivable. GENERAL LEDGER Accounts Recevable Deble Credit Date Balance May 06 May 10 May 17 Sales Debit Date Credit Balance Sales Returns and Allowances Debit Credit Date Balance Inventory Debit Credit Balance Date Beginning Inventory Cost of Goods Sold Date Balanco Debit Credit Raudz Dourad Next Required 1 Required 2 Required 3 ces Prepare a schedule of accounts receivable. MOUNTAIN VIEW Schedule of Accounts Receivable May 31 Anna Page $ 1,066 Sara Reed 3,946 Aaron Reckers 4,290 Total accounts receivable 9,302
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