Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The accounts in the Sales trust ledger are as follows: - 700 Trust Bank Account $ 218,000.00 Debit 710 Harvey to Austin 80,500.00 Credit 720

The accounts in the Sales trust ledger are as follows: -
700 Trust Bank Account $ 218,000.00 Debit
710 Harvey to Austin 80,500.00 Credit
720 Melisa to Lyn 77, 000.00 Credit
730 Grant to Jan 50, 000.00 Credit
740 Moore - Auction expenses 10,500.00 Credit

The accounts in the Sales trust ledger are as follows: -
700 Trust Bank Account $ 218,000.00 Debit
710 Harvey to Austin 80,500.00 Credit
720 Melisa to Lyn 77, 000.00 Credit
730 Grant to Jan 50, 000.00 Credit
740 Moore - Auction expenses 10,500.00 Credit

record the payments from trust account in the ledger.

sales ledgers
account name : Bank account No 700
Date details folio No debit credit balance
218,000.00
sales ledgers
account name : harvey to austin account No 700 710
Date details folio No debit credit balance
80,500.00
ales ledgers
account name : melissa to lyn account No 700 720
Date details folio No debit credit balance
77,000.00
sales ledgers
account name : grant to jan account No 700 730
Date details folio No debit credit balance
50,000.00

sales ledgers
account name : moore- auction expenses account No 700 740
Date details folio No debit credit balance
80,500.00

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

Step: 3

blur-text-image

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

Payroll Management 2020 Edition

Authors: Steven M. Bragg

1642210366, 978-1642210361

More Books

Students also viewed these Accounting questions

Question

Consider this article:...

Answered: 1 week ago