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At the end of May, the sales journal of Mountain View appears as follows. Assume beginning inventory balance for May to be $15,908. Date Account
At the end of May, the sales journal of Mountain View appears as follows. Assume beginning inventory balance for May to be $15,908.
Date | Account Debited | Invoice Number | PR | Accounts Receivable Dr. Sales Cr. | Cost of Goods Sold Dr. Inventory Cr. | ||||||
May 6 | Aaron Reckers | 190 | 4,650 | 3,534 | |||||||
10 | Sara Reed | 191 | 3,710 | 3,061 | |||||||
17 | Anna Page | 192 | 1,651 | 971 | |||||||
25 | Sara Reed | 193 | 660 | 388 | |||||||
31 | Totals | 10,671 | 7,954 | ||||||||
Mountain View also recorded the return of defective merchandise with the following entry.
Date | General Journal | Debit | Credit |
May 20 | Sales Returns and Allowances | 450 | |
Accounts ReceivableAnna Page | 450 | ||
Customer returned (worthless) merchandise. | |||
Required: 1. Post to the customer accounts the entries in the sales journal and any portion of the general journal entry that affects a customer's 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.
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