R 8 REVIEW, PRACTICE, AND Mar. 15 Recorded cash sales for the first half of the month, $6,300. 18 Sold merchandise on account to Bob Lawford, $595. 19 Issued a credit memorandum to Bob Lawford for a shortage on the sale of March 18, $85. 19 Received a check from Bob Lawford in payment of the amount due on the sale of March 9. 20 Sold merchandise on account to Country Corner Grocery, $625. 22 Sold merchandise on account to Grand Rapids Produce Company, $990 22 Received a check from Country Corner Grocery in payment of the amount due on the sale of March 12. 23 Sold merchandise on account to Marvin Stark, $420. 24 Issued a credit memorandum to Marvin Stark as an allowance for damaged merchandise due to faulty packaging, $95. 27 Sold merchandise on account to Grand Rapids Produce Company, $400. 28 Received a check from Bob Lawford for the balance due on his account. 28 Sold merchandise on account to Michael's Foods, $1,000. 31 Sold merchandise on account to Michael's Foods, $540. 31 Recorded cash sales for the second half of the month, $8,780. mere Directions: 1. Open the following accounts in the accounts receivable ledger: Country Corner Grocery, 415 East Fulton, Grand Rapids, MI 49503; Grand Rapids Produce Company, 14 Rangeline Road, Grand Rapids, MI 49503; Bob Lawford, 12 0] Shimmel Road, Centerville, MI 49032; Michael's Foods, 144 Bostwick NE, Grand Rapids, MI 49503; Brenda Myers, 512 East Greenwood, Grand Rapids, MI 49503; and Marvin Stark, 312 Bankers Loop, Grand Rapids, MI 49503. 2. Open the following accounts in the general ledger: Cash, 111; Accounts Receivable, 112; Sales, 411; Sales Returns and Allowances, 411.1; and Sales Discounts, 411.2. beinuor 3. Record Graham's March transactions in the appropriate journal, either a one- column sales journal, a five-column cash receipts journal, or a general journal. Use page 1 for each journal. Post to the accounts receivable ledger after each entry. 4. Total and rule the special journals, and post the column totals to the general ledger. Post the individual entries from the general journal to the general ledger. 5. Prepare a schedule of accounts receivable as of March 31, and compare its total Problem 8-5B with the balance of the Accounts Receivable controlling account. Objective: To complete a compreh ledgers