Comprehensive problem : recording transactions in sales, cash receipts and general journals; recording in accounts receivable subsidiary ledger; preparing a schedule of accounts receivable.

Check Figure; Schedule of Accounts Receivable $5700

(P6-3B) Kylie Henderson owns Henderson's Home Improvement Shop in London . (In your working papers , balances as of May 1 are provided for the accounts receivable and general ledger accounts. Note: the balance of May 1st are provided as : B. Dale $400, For Ron Lester balance $800, for Pam Pry balance $600, and for Jim Zon balance $400) The following transactions occurred in May:

2021

May 1. Kylie Henderson invested an additional $12,000 in the home improvement store.

4. Sold $900 worth of merchandise on account to B. Dale, sales invoice no. 160, terms 1/10, n/30. Cost of inventory was $675.

4.Sold $500 worth of merchandise on account to Ron Lester, sales invoice no. 161, terms 1/10, n/30. Cost of inventory was $375.

8. Sold $ 200 worth of merchandise on account to Jim Zon, sales invoice No. 162, terms 1/10, n/30. Cost of inventory was $150.

11. Received cash from B. Dale in payment of May 4 transaction, sales invoice no. 160, less discount.

21. Sold $3,000 worth of merchandise on account to Pam Pry, sales invoice no. 163, terms 1/10, n/30. Cost of inventory was $2,250.

22. Received cash payment from Ron Lester in payment of May 4 transaction, sales invoice no. 161.

22. Collected cash sales, $3,000. cost of inventory was $2,250.

25. Issued credit memorandum no. 31 to Pam Pry for $2,000 worth of merchandise returned from May 21 sales on account. Cost of inventory was $1,500.

25. Collected cash sales , $7,000. Cost of inventory was $5,250.

28. Received cash from Pam Pry in payment of May 21 sales invoice no. 163.(Don't forget about the credit memo and discount.)

28. Sold home improvement rack equipment for $300 cash. (Beware.)

29. Sold merchandise , priced at $4,000, on account to Ron Lester, sales invoice no. 164, terms 1/10, n/30. Cost of inventory is $3,000.

31. Issued credit memorandum no. 32 to Ron Lester for $700 worth of defects from May 29 transaction , sales invoice No. 164. The merchandise was not returned to inventory.

Required

a. Journalize the transactions.

b. Record in the accounts receivable subsidiary ledger.

c. Prepare a schedule of accounts receivable as of May 31.