S7-5 Posting transactions from a sales journal to a subsidiary ledger and general ledger Review your results from Short Exercise $7-4 Requirements 1. Total each column of the sales journal. 2. Open the following four-column accounts in the accounts receivable subsidiary ledger: Accounts Receivable-Frank; Accounts Receivable-Jack; Accounts Receivable-Thompson; Accounts Receivable-West. Post the transactions to the accounts receivable subsidiary ledger. 3. Open the following sele cted four-column accounts in the general ledger: Accounts Receivable (112); Merchandise Inventory (118), Bal. $5,000; Sales Revenue (411); Cost of Goods Sold (511). Post the total of each column to the general ledger. Balance the total of the customer ending balances in the accounts receivable sub- sidiary ledger against Accounts Receivable in the general ledger t8 Gabe West, $820. Cost of goods the following sales journal to record the preceding transactions All cedit sales are journal transactions. All credit sales are terms of n/30, s Sales Journal Invoice Customer Page 1 Accounts Receivable DR Sales Revenue CR No. Account Debited Post. Ref. Cost of Goods Sold DR Merchandise Inventory CR 2018 Note: Short Exercise S7-4 must be completed before attempting Short Exercise S7- S7-5 Posting transactions from a sales journal to a subsidiary ledger and Learning general ledger Review your results from Short Exercise $7-4 Requirements 1. Total each column of the sales journal. 2. Open the following four-column accounts in the accounts receivable subsidiary ledger: Accounts Receivable-Frank; Accounts Receivable-Jack; Accounts Receivable-Thompson; Accounts Receivable-West. Post the transactions to the accounts receivable subsidiary ledger. S7-5 Posting transactions from a sales journal to a subsidiary ledger and general ledger Review your results from Short Exercise $7-4 Requirements 1. Total each column of the sales journal. 2. Open the following four-column accounts in the accounts receivable subsidiary ledger: Accounts Receivable-Frank; Accounts Receivable-Jack; Accounts Receivable-Thompson; Accounts Receivable-West. Post the transactions to the accounts receivable subsidiary ledger. 3. Open the following sele cted four-column accounts in the general ledger: Accounts Receivable (112); Merchandise Inventory (118), Bal. $5,000; Sales Revenue (411); Cost of Goods Sold (511). Post the total of each column to the general ledger. Balance the total of the customer ending balances in the accounts receivable sub- sidiary ledger against Accounts Receivable in the general ledger t8 Gabe West, $820. Cost of goods the following sales journal to record the preceding transactions All cedit sales are journal transactions. All credit sales are terms of n/30, s Sales Journal Invoice Customer Page 1 Accounts Receivable DR Sales Revenue CR No. Account Debited Post. Ref. Cost of Goods Sold DR Merchandise Inventory CR 2018 Note: Short Exercise S7-4 must be completed before attempting Short Exercise S7- S7-5 Posting transactions from a sales journal to a subsidiary ledger and Learning general ledger Review your results from Short Exercise $7-4 Requirements 1. Total each column of the sales journal. 2. Open the following four-column accounts in the accounts receivable subsidiary ledger: Accounts Receivable-Frank; Accounts Receivable-Jack; Accounts Receivable-Thompson; Accounts Receivable-West. Post the transactions to the accounts receivable subsidiary ledger