Selected transactions follow for Macaron Sports Ltd. during the company's first month of business. The company uses a perpetual Inventory system Feb. 2 Sold 51.139 of merchandise to Andrew Noren on account, terms /30. The goods had cost Macaron 5760 4 Andrew Noren returned for credit $139 of the merchandise purchased on February 2. The goods had cost Macaron $36 and they were returned to inventory 5 Sold S756 of merchandise to Dang Corporation on account, terms 2/10, 1/30. The goods had cost Macaron $493. 8 Sold 5848 of merchandise to Michael Collins for cash. The goods had cost Macaron 5617. 10 Sold 924 of merchandise to Refik Kury, who paid with a credit card. The goods had cost Macaron 5683 14 Dong Corporation paid its account in full. 17 Andrew Noren purchased an additional 692 of merchandise on account, terms /30. The goods had cost Macaron 1412 Sold 51.726 of merchandise to Batstone Corporation on account, terms 2/10, w 30. The goods had cost Macaron $1.103. 28 Andrew Noren paid $1.000 on account Your answer is partly correct. Try agan Wepare the ouma entries to record each of the above transactions. (credit account titles are automatically indented when amount is entered. Do not indent manually. Il no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to the nearest whole dollar, e., S. 275.) Date Account Titles and Explanation Credit Feb. 2 Accounts Receivable 1139 Sales 1139 Feb. 14 Cash 740.88 Sales Discounts 15.12 HOC Accounts Receivable 756 (To record cost of goods sold) Feb. 22 Accounts Receivable 1726 1726 Sales (To record sales) Cost of Goods Sold 412 Inventory 412 Set up T accounts for the Accounts Receivable general ledger (control) account and for the Accounts Receivable subsidiary ledger accounts. Post the journal entries to these accounts. presented in the previous part.) Accounts Receivable Subsidiary Ledger Andrew Noren Dong Corporation Batstone Corporation General Ledger Control Account General Ledger Control Account Accounts Receivable LtdLO SHOW LIST OF ACCOUNTS Prepare a list of customers and the balances of their accounts from the subsidiary ledger. Prove that the total of the subsidiary ledger balances is equal to the control account balance. leave any fields blank.) Subsidiary listing Andrew Noren Dong Corporation Batstone Corporation Total Balance per general ledger control account SHOW LIST OF ACCOUNTS Selected transactions follow for Macaron Sports Ltd. during the company's first month of business. The company uses a perpetual inventory system. Feb. 2 Sold $1,139 of merchandise to Andrew Noren on account, terms n/30. The goods had cost Macaron $760. 4 Andrew Noren returned for credit $139 of the merchandise purchased on February 2. The goods had cost Macaron $86 and they were returned to inventory. 5 Sold $756 of merchandise to Dong Corporation on account, terms 2/10, 1/30. The goods had cost Macaron $493. 8 Sold $848 of merchandise to Michael Collins for cash. The goods had cost Macaron $617. 10 Sold $924 of merchandise to Rafik Kurji, who paid with a credit card. The goods had cost Macaron $683. Dong Corporation paid its account in full Andrew Noren purchased an additional $692 of merchandise on account, terms n/30. The goods had cost Macaron $412. 22 Sold $1,726 of merchandise to Batstone Corporation on account, terms 2/10, 1/30. The goods had cost Macaron $1,103. 28 Andrew Noren paid $1,000 on account. 14 17
