Exercise 7-12 (Algo) Posting to subsidiary ledger accounts; preparing a schedule of accounts receivable LO P1 At the end of May, the sales journal of Mountain View appears as follows. Assume beginning inventory balance for May to be $5,800. Date Account Debited May 6 Aaron Reckers May 10 Sara Reed May 17 Anna Page May 25 Sara Reed May 31 Totals Sales Journal Page 2 Cost of Goods Sold Invoice Accounts Receivable Debit Inventory Number PR Debit Sales Credit Credit 190 2,060 1,566 191 1,120 924 192 498 293 193 199 117 3,877 2,900 Mountain View also recorded an allowance (price reduction) given to Anna Page with the following entry. Date Credit Debit 475 May 20 General Journal Sales Returns and Allowances Accounts Receivable-Anna Page Record allowance to customer. 475 account. 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 2. Post the sales journal and any portion of the general journal entry that affects these accounts. 3a. Prepare a schedule of accounts receivable. 3b. Prove (confirm) that its total equals the balance in the accounts receivable controlling account. an Required 1 Required 2 Required 3A Required 3B 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. ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER Anna Page Debit Credit Date Balance Sara Reed Date Debit Credit Balance Aaron Reckers Date Debit Credit Balance GENERAL LEDGER Accounts Receivable Debit Credit Date Balance Sales Date Debit Credit Balance Sales Returns and Allowances Date Debit Credit Balance Inventory Debit Date Credit Balance Beginning Inventory Coet of Goods Cold Sales Retums and Allowances Debit Credit Balance Date Inventory Date Debit Credit Balance Beginning Inventory Cost of Goods Sold Debit Credit Date Balance