Incredible Sounds is a wholesale business that sells musical Instruments. Transactions involving sales and cash receipts for the firm during April 20x1 follow. The firm sells its merchandise for cash and on open account. During April, Incredible Sounds engaged in the following transactions: DATE TRANSACTIONS 20x1 April i Sold merchandise for $3,200 to Alto Music Center; issued Invoice 3912 with terms of 2/10, n/30. 3 Received a check for $1,323 from Music Supply Store in payment of Invoice 2718 of March 25 ($1,35e), less cash discount ($27). 5 sold merchandise totaling $1,400 in cash to a new customer who has not yet established credit. 7 Merchandise of $80 sold on April 5 is returned for a cash refund. 8 Sold merchandise for $5,200 to Music Warehouse; issued Invoice 3913 with terms of 2/10, n/30. 10 Received payment from Alto Music Center in payment of Invoice 3912, less cash discount. 15 Accepted a return of damaged merchandise from Music Warehouse; issued Credit Memorandum 195 for $1,650. The original sale was made on Invoice 3913 on April 8. 17 Received payment from Music Warehouse for the sale of April 8, less the return on April 15; Music Warehouse deducted the appropriate cash discount from its payment. 19 Received a check for $1,650 as payment in full from Oldies Sounds for Invoice 3850 dated March 20. 20 Sold merchandise for $9,988 to Hawk Music Center; issued Invoice 3914 with terms of 2/10, n/30. 25 Sold merchandise for $9,580 to Modern Sounds; issued Invoice 3915 with terms of 2/10, n/38. 26 Sold merchandise for $7,388 to Country Tunes; issued Invoice 3916 with terms of 2/10, n/30. 27 Accepted a return of damaged merchandise from Modern Sounds; issued Credit Memorandum 106 for $370. The original sale was made on Invoice 3915 on April 25. 29 Received payment from Hawk Music Center for the sale of April 20, less cash discount. 30 Sold merchandise for $1,980 to Oldies Sounds; issued Invoice 3917 with terms of 2/10, n/30. Required: 2. Post the above transactions to the appropriate accounts in the general ledger and in the accounts receivable ledger. 3. Prepare a schedule of accounts receivable. GENERAL LEDGER ACCOUNTS 101 Cash, $26,180 Dr. 111 Accounts Receivable, $3,880 Dr. 4e1 Sales 451 Sales Returns and Allowances 452 Sales Discounts $1,350 ACCOUNTS RECEIVABLE LEDGER ACCOUNTS Alto Music Center Music Supply Store Country Tunes Music Warehouse Hawk Music Center Oldies Sounds Modern Sounds $1,650 Analyze What were the total sales on account in April, prior to any returns, allowances, or discounts? Complete this question by entering your answers in the tabs below. General Schedule of Ledgers AR Analyze Post the above transactions to the appropriate accounts in the general ledger and in the accounts receivable ledger. Cash Account No. 101 Credit Balance Accounts Receivable Date Debit Account No. 111 Credit Balance Date Debit General Ledgers Schedule of AR Analyze Post the above transactions to the appropriate accounts in the general ledger and in the accounts receivable ledger. Cash Account No. 101 Credit Balance Accounts Receivable Account No. 111 Credit Balance Debit Date Debit Date April 1, 20X1 April 1. 20X1 Sales Account No. 401 Credit Balance Sales Returns and Allowances Date Debit Account No. 451 Credit Balance Date Debit Sales Discounts Account No. 452 Credit Balance Date Debit ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER Alto Music Center Date Debit Country Tunes Debit Credit Balance Date Credit Balance Sales Discounts Date Debit Account No. 452 Credit Balance Alto Music Center Date Debit ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER Country Tunes Credit Balance Date Debit Credit Balance Hawk Music Center Date Debit Modern Sounds Date Debit Credit Balance Credit Balance Music Warehouse Music Supply Store Date Debit April 1, 20X1 Credit Balance Date Debit Credit Balance Oldies Sounds Debit Date Credit Balance April 1. 20X1 Incredible Sounds is a wholesale business that sells musical Instruments. Transactions involving sales and cash receipts for the firm during April 20x1 follow. The firm sells its merchandise for cash and on open account. During April, Incredible Sounds engaged in the following transactions: DATE TRANSACTIONS 20x1 April 1 sold merchandise for $3,200 to Alto Music Center; issued Invoice 3912 with terms of 2/18, n/30. 3 Received a check for $1,323 from Music Supply Store in payment of Invoice 2718 of March 25 ($1,35e), less cash discount ($27). 5 Sold merchandise totaling $1,400 in cash to a new customer who has not yet established credit. 7 Merchandise of $80 sold on April 5 is returned for a cash refund. 8 Sold merchandise for $5,200 to Music Warehouse; issued Invoice 3913 with terms of 2/10, n/30. 18 Received payment fron Alto Music Center irl payment of Invoice 3912, less cash discount. 15 Accepted a return of damaged merchandise fron Music Warehouse; issued Credit Memorandun 105 for $1,65e. The original sale was made on Invoice 3913 on April 8. 17 Received payment from Music Warehouse for the sale of April 8, less the return on April 15; Music Warehouse deducted the appropriate cash discount from its payment. 19 Received a check for $1,65 as payment in full from Oldies Sounds for Invoice 385e dated March 20. 20 Sold merchandise for $9,980 to Hawk Music Center; issued Invoice 3914 with terms of 2/10, n/3e. 25 Sold merchandise for $9,5ee to Modern Sounds; issued Invoice 3915 with terms of 2/10, n/3e. 26 Sold merchandise for $7,380 to Country Tunes; issued Invoice 3916 with terms of 2/10, n/30. 27 Accepted a return of damaged merchandise from Modern Sounds; issued Credit Memorandum 186 for $37e. The original sale was made on Invoice 3915 on April 25 29 Received payment from Hawk Music Center for the sale of April 20, less cash discount. 30 Sold merchandise for $1,980 to Oldies Sounds; issued Invoice 3917 with terms of 2/10, n/3e. Required: 2 Post the above transactions to the appropriate accounts in the general ledger and in the accounts receivable ledger. 3. Prepare a schedule of accounts recevable. GENERAL LEDGER ACCOUNTS 181 Cash, $26,189 Dr. 111 Accounts Receivable, $3,000 Dr. 481 Sales 451 Sales Returns and Allowances 452 Sales Discounts $1,350 ACCOUNTS RECEIVABLE LEDGER ACCOUNTS Alto Music Center Music Supply Store Country Tunes Music Warehouse Hawk Music Center Oldies Sounds Modern Sounds $1,650 Analyze: What were the total sales on account in April. prior to any returns, allowances, or discounts? Complete this question by entering your answers in the tabs below. General Schedule of Ledgers AR Analyze Prepare a schedule of accounts receivable. INCREDIBLE SOUNDS Schedule of Accounts Receivable April 30, 20X1 Alto Music Center Country Tunes Hawk Music Center Modern Sounds Music Supply Store Music Warehouse Oldies Sounds Total $ Incredible Sounds is a wholesale business that sells musical Instruments. Transactions involving sales and cash receipts for the firm during April 20x1 follow. The firm sells its merchandise for cash and on open account. During April, Incredible Sounds engaged in the following transactions: DATE TRANSACTIONS 20x1 April 1 Sold merchandise for $3,200 to Alto Music Center; issued Invoice 3912 with terms of 2/10, n/3e. 3 Received a check for $1,323 from Music Supply Store in payment of Invoice 2718 of March 25 ($1,35e), less cash discount ($27). 5 Sold merchandise totaling $1,4ee in cash to a new customer who has not yet established credit. 7 Merchandise of $80 sold on April 5 is returned for a cash refund. 8 Sold merchandise for $5,280 to Music Warehouse; issued Invoice 3913 with terms of 2/10, n/30. 10 Received payment from Alto Music Center in payment of Invoice 3912, less cash discount. 15 Accepted a return of damaged merchandise from Music Warehouse; issued Credit Memorandum 1e5 for $1,650. The original sale was made on Invoice 3913 on April 8. 17 Received payment fron Music Warehouse for the sale of April 8, less the return on April 15; Music Warehouse deducted the appropriate cash discount from its payment. 19 Received a check for $1,65e as payment in full from Oldies Sounds for Invoice 3858 dated March 20. 20 Sold merchandise for $9,980 to Hawk Music Center; issued Invoice 3914 with terms of 2/10, n/3e. 25 Sold merchandise for $9,580 to Modern Sounds; issued Invoice 3915 with terms of 2/10, n/3e. 26 Sold merchandise for $7,380 to Country Tunes; issued Invoice 3916 with terms of 2/10, n/30. 27 Accepted a return of damaged merchandise from Modern Sounds; issued Credit Memorandum 186 for $370. The original sale was made on Invoice 3915 on April 25. 29 Received payment from Hawk Music Center for the sale of April 20, less cash discount. 30 Sold merchandise for $1,980 to Oldies Sounds; issued Invoice 3917 with terms of 2/10, n/30. Required: 2. Post the above transactions to the appropriate accounts in the general ledger and in the accounts receivable ledger. 3. Prepare a schedule of accounts receivable. GENERAL LEDGER ACCOUNTS 181 Cash, $26,108 Dr. 111 Accounts Receivable, $3,889 Dr. 481 Sales 451 Sales Returns and Allowances 452 Sales Discounts $1,350 ACCOUNTS RECEIVABLE LEDGER ACCOUNTS Alto Music Center Music Supply Store Country Tunes Music Warehouse Hawk Music Center Oldies Sounds Modern Sounds $1,650 Analyze: What were the total sales on account in April, prior to any returns, allowances, or discounts? Complete this question by entering your answers in the tabs below. General Schedule of Ledgers AR Analyze What were the total sales on account in April, prior to any returns, allowances, or discounts? Total sales on account Analyze