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Markus Company maintains a separate accounts receivable account for each customer. On June 18, Markus sells $6,200 services on account to customer Anthony and $1,600
Markus Company maintains a separate accounts receivable account for each customer. On June 18, Markus sells $6,200 services on account to customer Anthony and $1,600 services on account to customer Walker. How will these two transactions affect the control and subsidiary accounts?
A.After posting this sales transaction, the sum of the balances in subsidiary accounts receivable will not equal the control account balance. |
B.The control account, Accounts Receivable, will be increased with a debit of $7,800. |
C.The control account will have a debit balance and the subsidiary accounts will have a credit balance. This keeps the accounting equation in balance. |
D.The individual customer accounts in the subsidiary ledger will be increased with credits. |
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