Exercise 7-3 On September 1, the balance of the Accounts Receivable control account in the general ledger of Montgomery Company was $10,670. The customers subsidiary ledger contained account balances as follows: Hurley $1,230, Andino $2,490, Fowler $2,000, and Sogard $4,950. At the end of September, the various journals contained the following information. Sales journal: Sales to Sogard $770, to Hurley $1,220, to Giambi $1,330, and to Fowler $1,070. Cash receipts journal: Cash received from Fowler $1,400, from Sogard $2,210, from Giambi $310, from Andino $1,790, and from Hurley $1,290. General journal: An allowance is granted to Sogard $280. Set up control and subsidiary accounts and enter the beginning balances. Accounts Receivable Date Explanation Ref. Debit Credit Balance Sept. 1 Balance Accounts Receivable Subsidiary Ledger Fowler Date Explanation Ref. Debit Credit Balance Sept. 1 Balance Sogard Date Explanation Ref. Debit Credit Balance Sept. 1 Balance Giambi Date Explanation Ref. Debit Credit Balance Sept. 1 Balance Andino Date Explanation Ref. Debit Credit Balance Sept. 1 Balance Hurley Date Explanation Ref. Debit Credit Balance Sept. 1 Balance Post the various journals. Post the items as individual items or as totals, whichever would be the appropriate procedure. Accounts Receivable Date Explanation Ref. Debit Credit Balance Sept. 1 Balance 10,670 S CR G Accounts Receivable Subsidiary Ledger Fowler Date Explanation Ref. Debit Credit Balance Sept. 1 Balance 2,000 S CR Sogard Date Explanation Ref. Debit Credit Balance Sept. 1 Balance 4,950 S CR G Giambi Date Explanation Ref. Debit Credit Balance Sept. 1 0 S CR Andino Date Explanation Ref. Debit Credit Balance Sept. 1 Balance 2,490 CR Hurley Date Explanation Ref. Debit Credit Balance Sept. 1 Balance 1,230 SR CR