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LO P 1 At the end of May, the sales journal of Mountain View appears as follows. Assume beginning inventory balance for May to be
LO P
At the end of May, the sales journal of Mountain View appears as follows. Assume beginning inventory balance for May to be $
tableDateAccount Debited,tableInvoiceNumberrnal,tableAccountsReceivable DebitSales CredittablePage Cost of GoodsSold DebitInventory CreditMay Aaron Reckers,May Sara Reed,May Anna Page,May Sara Reed,May Totals,,,
Mountain View also recorded an allowance price reduction given to Anna Page with the following entry.
tableDateGeneral Journal,Debit,CreditMay tableSales Returns and AllowancesAccounts ReceivableAnna PageRecord allowance to customer.
Required:
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.
Post the sales journal and any portion of the general journal entry that affects these accounts.
a Prepare a schedule of accounts receivable.
b Prove confirm that its total equals the balance in the accounts receivable controlling account.
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