Brief Exercise 7-04

Presented below is information related to Crane Company for its first month of operations.

Credit Sales. Cash Collections

Jan. 7 Austin Co. $11,700. Jan. 17 Austin Co. $8,200

15 Diaz Co. 8,000. 24 Diaz Co. 4,900

23 Noble Co. 10,300. 29 Noble Co. 10,300

Identify the balances that appear in the accounts receivable subsidiary ledger and the accounts receivable balance that appears in the general ledger at the end of January.

Subsidary Ledger. General Ledger

Austin Co. Diaz Co. Noble Co.

Balance of Accounts Receivable