Exercise 8-1 Subledger accounts L01 Wallace Contracting recorded the following transactions during November 2020: Nov. 8.500 8.500 8 2,600 2.600 11 Accounts Receivable-ABC Shop. Sales Accounts Receivable-Colt Enterprises... Sales Accounts Receivable-Red McKenzie. Sales Sales Returns and Allowances Accounts Receivable-Red McKenzie. Accounts Receivable-ABC Shop Sales 1.560 1,560 19 214 214 28 4.980 4.980 Cost of goods sold (or COO) has been ignored for the purpou of maintaining focus on accounts receivable Required 1. Open a general ledger having T-accounts for Accounts Receivable, Sales, and Sales Returns and Allowances. Also open an accounts receivable subledger having a Taccount for each customer. Post the preceding entries to the general ledger accounts and the customer accounts. 2. List the balances of the accounts in the subledger, total the balances, and compare the total with the balance of the Accounts Receivable controlling account