ACCOUNTS RECEIVABLE LEDGER B&G Distributors AESS 2628 Burlington Avenue, Chicago, IL 60604-1329 NAME DATE BALAN 20 1 13 80 00 1380 00 14 0 00 1 2 4 0 00 Aug 3 M. Chang NORES 1422 SW Pacific, Chicago, IL 60603-8596 ANG Aug 2136 00 2136 00 J1 2136 00 11 12 B.J. Hinschliff & Ca. AORES 133 College Bivd., Des Plaines, IL 60611-4431 E BLANI 12 110 6 00 384 00 1106 00 149 0 00 Aug 15 21 J3 Sally M. Pits AORSS 213 East 29th Place, Chicago, IL 60601-6287 POSE DERT RET BALANE Aug. 21 838 00 8 38 00 J3 NAME Trendsetters, Inc. MORESS 29 Industrial Way, Chicago, IL 60600-5918 EM DERT CRENT ILANI Aug. 28 1018 00 1018 00 J4
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SCHEDULE OF ACCOUNTS RECEIVABLE From the accounts receivable
ledger shown, prepare a schedule of accounts receivable for Pheng Co.
as of August 31, 20--.
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- A ezto.mheducation.com sijon 17A - Connect Data_Sales.xlsx: fa21cob204 Computer Information Systems Dashb on 1-7-6A - Connect Saved Help The accounts receivable balance for Renue Spa at December 31, Year 1, was $86,000. Also on that date, the balance in the Allowance for Doubtful Accounts was $2,500. During Year 2, $1.900 of accounts receivable were written off as uncollectible. In addition, Renue unexpectedly collected $130 of receivables that had been written off in a previous accounting period. Services provided on account during Year 2 were $211,000, and cash collections from receivables were $212,936. Uncollectible accounts expense was estimated to be 1 percent of the sales on account for the period. Required a. Record the transactions in general journal form and post to T-accounts. b. Based on the preceding information, compute (after year-end adjustment): (1) Balance of allowance for doubtful accounts at December 31, Year 2. (2) Balance of accounts receivable at December 31,…PA5. 7.4 Brown Inc. records purchases in a purchases journal and purchase returns in the general journal. Record the following transactions using a purchases journal, a general journal, and an accounts payable subsidiary ledger. The company uses the periodic method of accounting for inventory. Oct.1 Purchased inventory on account from Price Inc. for $2,000 Oct.1 Purchased inventory on account from Cabrera Inc. for $3,000 Oct.8 Returned half of the inventory to Price Inc. Oct.9 Purchased inventory on account from Price Inc. for $4,200PA4. LO 7.4 Use the journals and ledgers that follow. Total the journals. Post the transactions to the subsidiary ledger and (using T-accounts) to the general ledger accounts. Then prepare a schedule of accounts receivable. SALES JOURNAL Page 79 DR COGS CR Merchandise DR Accts. Receivable Date Account Invoice No. Ref. CR Sales Inventory 2019 Feb. 4 Evert Company (E123) King Inc. (K331) Martina Inc. (M132) 17433 1,000.00 Feb. 8 17434 775.30 Feb. 14 17435 2,301.99 Feb. 16 Shriver Company (S101) 17436 500.00 SALES JOURNAL Page 102 Accounts Receivable, Discounts Sales, or Other Sales Date Account Invoice No. Ref. Cash DR DR Accounts CR 2019 Feb. 1 Cash Sales 465 465 Payment from Evert Feb. 15 Bank loan (230) Feb. 5 1723 980 20 1,000 2,000 2,000 Feb. 21 Payment from Shriver Co. 1719 500 500
- Sales Transactions J. K. Bijan owns a retail business and made the following sales on account during the month of August 20--. There is a 6% sales tax on all sales. Aug. 1 Sale No. 213 to Jung Manufacturing Co., $1,310 plus sales tax. 3 Sale No. 214 to Hassad Co., $3,740 plus sales tax. * Sale No. 215 to Helsinki, Inc., $1,250 plus sales tax. (Open a new account for this customer. Address is 125 Fishers Dr., Noblesville, IN 47870-8867.) 11 Sale No. 216 to Ardis Myler, $1,150 plus sales tax. 18 Sale No. 217 to Hassad Co., $4,150 plus sales tax. 22 Sale No. 218 to Jung Manufacturing Co., $1,980 plus sales tax. 30 Sale No. 219 to Ardis Myler, $1,560 plus sales tax. Required: 1. Record the transactions starting on page 15 of a general journal. Enter the posting references when you complete part 2. GENERAL JOURNAL PAGE 15 DESCRIPTION DEBIT DATE POST. REF. CREDIT 20-- Accounts Receivable/Jung Manufacturing Co. * Sales - Sales Tax Payable Aug. 1 1,310 1,236 74 Sale No. 213 Aug. 3 Accounts…E6.15 Determina correct posting amount to control account. CHAPTER 6 Accounting information systems LO9, 10, 14 Ladder Blocks Pty Ltd uses both special journals and a general journal to record transactions. Ladder Blocks also posts creditors' accounts in the accounts payable subsidiary ledger. The postings for the most recent month are included in the subsidiary T accounts below. Climbers Ltd 150 Bal. (b) Aumans Materials Ltd 87 Bal. 204 120 0 87 Brick-a-Brack Pty Ltd 90 Bal. Construct Pty Ltd 72 Bal. 90 174 72 114 102 Required (a) Determine the correct amount of the end-of-month posting from the purchases journal to the accounts payable control account. Assume that Ladder Blocks has one creditor only and does not expect there to be any other creditors in the future. Would there be any advantage to Ladder Blocks setting up an accounts payable subsidiary ledger?ACCOUNTS RECEIVABLE LEDGER NAME: E. McKenzie ADDRESS: 4717 Erin St, Madison, WI 53713 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 3 J60 3,816.00 3,816.00 Aug. 18 J60 4,589.80 fill in the blank 1 J60 105.00 fill in the blank 2 ACCOUNTS RECEIVABLE LEDGER NAME: S. Rottier ADDRESS: 1008 S. 9TH St, Monona, WI 53715 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 7 J60 1,484.00 1,484.00 Aug. 10 J60 400.00 fill in the blank 3 ACCOUNTS RECEIVABLE LEDGER NAME: L. Franklin ADDRESS: 2815 Main St, Cottage Grove, WI 53711 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 1 J60 1,272.00 1,272.00 Aug. 22 J60 2,120.00 fill in the blank 4 Using the information from the ledgers, prepare a schedule of accounts receivable as of August 31. If required, round your intermediate and final answers to the nearest cent. Willis Spas and PoolsSchedule of Accounts ReceivableAugust 31, 20-- E. McKenzie $fill…
- A ezto.mheducation.com Data Sales.xlsx: fa21cob204 Computer Information Systems Dashbo Saved Help Sa The fo"owing account balances come from the records of Ourso Company. Accounts receivable Allowance for doubtful accounts Beginning Balance $ 2,914 Ending Balance $ 3,805 208 104 During the accounting period, Ourso recorded $12,500 of sales revenue on account. The company also wrote off a $177 account receivable. Required a. Determine the amount of cash collected from receivables. b. Determine the amount of uncollectible accounts expense recognized during the period. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amount of cash collected from receivables. Collections of accounts receivable K Required A Required B> < Prev 1 of 1 Next MacBook Pro #3 $ & 4 6. 7 8. V くo4. B Corp.’s accounts receivable subsidiary ledger shows the following information: Customer Account BalanceDecember 31, 2022 Sales Invoices Date Amount Pray Inc. P 35,180 12/6/2022 P 14,000 11/29/2022 21,180 Patience Co. 20,920 9/27/2022 12,000 8/20/2022 8,920 Love Corp. 30,600 12/8/2022 20,000 10/25/2022 10,600 Happy Co. 45,140 11/17/2022 23,140 10/9/2022 22,000 Kindness Corp. 31,600 12/12/2022 19,200 12/2/2022 12,400 Gentleness Inc. 17,400 9/12/2022 17,400 The estimated bad debts rates below are based on BB’s receivable collection experience. Age of Accounts Rate 0 -30 days 1.00% 31- 60 days 1.50% 61-90 days 3.00% 91 - 120 days 10.00% over 120 days 50.00% The allowance for bad debts had beginning balance of P6,500. Statement 1: The net realizable value of the accounts receivable at December 31, 2022 is P165,170. Statement 2:…Accounts Receivable Subsidiary Ledger The debits and credits from two transactions are presented in the following customer account: NAME Horizon Entertainment ADDRESS 125 Wycoff Ave. Debit Credit Date Item Post. Ref. Balance Feb. 1 Balance 280 Feb. 22 Invoice No. 422 CR106 120 160 Feb. 27 Invoice No. 445 R92 170 330 Select the choice that describes each transaction and the source of each posting. Journal page Date Action Invoice No. Posted From Feb. 22 Feb. 27
- Identify Transactions in Accounts Receivable Subsidiary Ledger The debits and credits from three related transactions are presented in the following customer's account taken from the accounts receivable subsidiary ledger: Mission Design NAME 1319 Elm Street ADDRESS Post. Ref. Date Item Debit Credit Balance 20Υ7 Apr. 3 R44 740 740 Apr. 6 J11 60 680 Apr. 24 CR81 680 Describe each transaction and identify the source of each posting. Describe each transaction Identify the source Apr. 3 Apr. 6 Apr. 24PA9 GENERAL JOURNAL PAGE X POST. DATE DESCRIPTION REF. DEBIT CREDIT 1 20хx 2 А. 2. 3 13 4 4 5 В. 15 16 7 7m AA Priva × system er... G governm... cv.blackboard.com G administr... Departm... BUS 241 - Principles Of Accounting | (20953) Mastery Assignment Instructions PA6.) Review the following transactions for Dish Mart and record any required journal entries. Note that all purchase transactions are with the same supplier. Nov. 5 Dish Mart purchases 26 sets of dishes for $460 per set with cash. Nov. 9 Dish Mart purchases 30 sets of dishes for $430 per set on credit. Terms of the purchase are 10/15, n/60, invoice date November 9. Nov. 13 Dish Mart discovers 5 of the dish sets are damaged from the November 9 purchase and returns them to the supplier for a full refund. G reese rd e... Nov. 14 Dish Mart purchases 10 sets of dishes for $450 per set, on credit. Terms of the purchase are 10/10, n/60, invoice date November 14. Û + O Nov. 15 Dish Mart discovers that 2 of the dish sets from the November 14 purchase and 4 of the dish sets from the November 5 purchase are missing a few dishes but keeps…