Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PA4. LO 7.4 Use the journals and ledgers that follow. Total the journals. Post the transactions to the subsidiary ledger and (using T-accounts) to the

image text in transcribed
PA4. LO 7.4 Use the journals and ledgers that follow. Total the journals. Post the transactions to the subsidiary ledger and (using T-accounts) to the general ledger accounts. Then prepare a schedule of accounts receivable. SALES JOURNAL Page 79 DR Accts. Receivable CR Sales DR COGS CR Merchandise Inventory Date Account Invoice No. Ref. 2019 Feb. 4 Feb. 8 Feb. 14 Feb. 16 Evert Company (E123) King Inc. (K331) Martina Inc. (M132) Shriver Company (101) 17433 17434 17435 17436 1,000.00 775.30 2,301.99 500.00 SALES JOURNAL Page 102 Accounts Sales Receivable, Discounts Sales, or Other DR Accounts CR Invoice No. Ref. Cash DR Date Account 2019 Feb. 1 Cash Sales Feb. 5 Payment from Evert Feb. 15 Bank loan (230) Feb. 21 Payment from Shriver Co. 1723 465 980 2,000 500 465 1,000 2,000 500 1719

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Karen Bird, Gene Imhoff

3rd Edition

0984200541, 9780984200542

More Books

Students also viewed these Accounting questions

Question

What level of candor do decision makers require?

Answered: 1 week ago