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How did they get the 20,000.00 initial balance for Apr. 1? this is from the textbook. after this portion of the example, more steps are
How did they get the 20,000.00 initial balance for Apr. 1?
this is from the textbook. after this portion of the example, more steps are added. none of which go back to my question.
372 PART) Accounting for a chandising Business FIGURE 10-18 Posting Cash Receipts to the General Ledger and Accounts Receivable Ledger GENERAL JOURNAL (Partial) Descrie 1.525.00 Accounts Receivable/E. Lorenzo 1,596.00 462.00 Accounts Receivable/ Myers Received cash on account GENERAL LEDGER (Partial) ACCOUNTS RECEIVABLE LEDGER (Partial) NAME Enrico Lorenzo ADDRESS 1827 N 100 Rd, Baldwin City, KS 66006 ACCOUNT NO. 101 Debit Credit Debit Credit Date Item Ref Debit Credit Balance 1.596.00 151.596.00 46200 20,000.00 21.590.00 22.058.00 ACCOUNT Accounts Receivable NAME Brenda Myers ADDRESS 1613 Stone Meadows, Lawrence, KS 66049 ACCOUNT NO. 122 Debt Credit Debit Credit Date Item Ref. Debit Credit Balance 1,596.00 12,000.00 13.596.00 14.058.00 1,596.00 12,462.00 13.491 00 662.00 1029.00 LO4 Schedule of Accounts Receivable Prepare a schedule of accounts receivable. At the end of the month, all postings to Accounts Receivable in the general ledger and to the accounts receivable ledger should be complete, as shown in Figure 10-19 At this point, the Accounts Receivable balance in the general ledger should equal thi sum of the customer balances in the accounts receivable ledger. To verify that the sum of the accounts receivable ledger balances equals th Accounts Receivable balance, a schedule of accounts receivable is prepared. This is a alphabetical or numerical listing of customer accounts and balances, usually prepar at the end of the month. Note that customers whose account balance is zero aren included. The schedule of accounts receivable for Sunflower Cycle as of April 30 illustrated in Figure 10-20. This schedule is prepared from the list of customer accounts in the accou 372 PART) Accounting for a chandising Business FIGURE 10-18 Posting Cash Receipts to the General Ledger and Accounts Receivable Ledger GENERAL JOURNAL (Partial) Descrie 1.525.00 Accounts Receivable/E. Lorenzo 1,596.00 462.00 Accounts Receivable/ Myers Received cash on account GENERAL LEDGER (Partial) ACCOUNTS RECEIVABLE LEDGER (Partial) NAME Enrico Lorenzo ADDRESS 1827 N 100 Rd, Baldwin City, KS 66006 ACCOUNT NO. 101 Debit Credit Debit Credit Date Item Ref Debit Credit Balance 1.596.00 151.596.00 46200 20,000.00 21.590.00 22.058.00 ACCOUNT Accounts Receivable NAME Brenda Myers ADDRESS 1613 Stone Meadows, Lawrence, KS 66049 ACCOUNT NO. 122 Debt Credit Debit Credit Date Item Ref. Debit Credit Balance 1,596.00 12,000.00 13.596.00 14.058.00 1,596.00 12,462.00 13.491 00 662.00 1029.00 LO4 Schedule of Accounts Receivable Prepare a schedule of accounts receivable. At the end of the month, all postings to Accounts Receivable in the general ledger and to the accounts receivable ledger should be complete, as shown in Figure 10-19 At this point, the Accounts Receivable balance in the general ledger should equal thi sum of the customer balances in the accounts receivable ledger. To verify that the sum of the accounts receivable ledger balances equals th Accounts Receivable balance, a schedule of accounts receivable is prepared. This is a alphabetical or numerical listing of customer accounts and balances, usually prepar at the end of the month. Note that customers whose account balance is zero aren included. The schedule of accounts receivable for Sunflower Cycle as of April 30 illustrated in Figure 10-20. This schedule is prepared from the list of customer accounts in the accou Step by Step Solution
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