m Chapter 07 oblem Chapter 07 F1 2 WP Question 1 of 1 - Module 07 ACR Problem Chapter 07 Question 1 of 1 View Policies Show Attempt History Current Attempt in Progress Account Number 30: F2 Sandhill Co. uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger. Balances related to both the general ledger and the subsidiary ledgers for Sandhill are indicated in the working papers presented below. Also following are a series of transactions for Sandhill Co. for the month of January. Credit sales terms are 2/10, n/30. The cost of all merchandise sold was 60% of the sales price. 101 112 115 120 126 130 157 158 201 301 3 Cash Accounts Receivable GENERAL LEDGER Notes Receivable Account Title Inventory Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equip. Accounts Payable Owner's Capital Schedule of Accounts Receivable (from accounts receivable subsidiary ledger) 80 F3 $ 4 Q F4 % 5 0 F5 education.wiley.com