Requirement 1. Journalize the transactions. Ignore Cost of Goods Sold. Omit explanations. (Record debits first, then credits. Exclude explanations from journal entries.) Jun. 1: Sold merchandise inventory on account to Culver Company, $1,740. Date Accounts and Explanation Debit Credit More Info Jun. 1 Accounts Receivable-Culver Company 1,740 Sales Revenue 1,740 - X Jun. 6: Sold merchandise inventory for cash, S725. Jun. 1 Sold merchandise inventory on account to Culver Company, $1,740. Jun. 6 Sold merchandise inventory for cash, $725. Received cash from Culver Company in full settlement of its accounts Jun. 12 receivable. Jun. 20 Sold merchandise inventory on account to Indigo Company, $785. Jun. 22 Sold merchandise inventory on account to Dejan Company, $110. Received cash from Indigo Company in partial settlement of its accounts Jun. 28 receivable, $400. Date Accounts and Explanation Debit Credit Jun. 6 Cash 725 Sales Revenue 725 Print Done Jun. 12: Received cash from Culver Company in full settlement of its accounts receivable. Date Accounts and Explanation Debit Credit Jun. 12 Cash 1,740 Accounts Receivable-Culver Company 1,740 - X Requirements Jun. 20: Sold merchandise inventory on account to Indigo Company, $785. 1. Journalize the transactions. Ignore Cost of Goods Sold. Omit explanations. 2. Post the transactions to the general ledger and the accounts receivable subsidiary ledger. Assume all beginning balances are $0. 3. Verify the ending balance in the control Accounts Receivable equals the sum of the balances in the subsidiary ledger. Debit Credit Date Accounts and Explanation Jun. 20 Accounts ReceivableIndigo Company 785 | Print Done Choose from any list or enter any number in the input fields and then click Check Answer. Requirement 2. Post the transactions to the general ledger and the accounts receivable subsidiary ledger. Assume all beginning balances are $0. Post the transactions to both the general ledger and accounts receivable subsidiary ledger accounts and then calculate the ending balance of each account. Denote the ending account balance as Bal. (Enter a "0" on the normal side of the account for any zero balances.) Review the journal entries prepared in Requirement 1. GENERAL LEDGER SUBSIDIARY LEDGER Accounts Receivable-Culver Cash X Requirements More Info Accounts Receivable Accounts ReceivableDejan 1. Journalize the transactions. Ignore Cost of Goods Sold. Omit explanations. 2. Post the transactions to the general ledger and the accounts receivable subsidiary ledger. Assume all beginning balances are 50. 3. Verify the ending balance in the control Accounts Receivable equals the sum of the balances in the subsidiary ledger. Jun. 1 Sold merchandise inventory on account to Culver Company, $1,740. Jun. 6 Sold merchandise inventory for cash, $725. Received cash from Culver Company in full settlement of its accounts Jun. 12 receivable. Jun. 20 Sold merchandise inventory on account to Indigo Company, $785. Jun. 22 Sold merchandise inventory on account to Dejan Company, S110. Received cash from Indigo Company in partial settlement of its accounts Jun. 28 receivable, $400. Print Done Sales Revenue Accounts Receivable-Indigo Print Done Choose from any list or enter any number in the input fields and then click Check
