COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
4th Edition
ISBN: 9781260255157
Author: Haddock
Publisher: MCG CUSTOM
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Chapter 7, Problem 10E
1.
To determine
Prepare schedule of
2.
To determine
Explain whether the total of accounts receivable schedule should agree with the balance of the accounts receivable account in the general ledger.
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Oriole Products uses both special journals and a general journal. Oriole also posts customers' accounts in the accounts receivable
subsidiary ledger. The postings for the most recent month are included in the subsidiary T-accounts below.
Estes
Bal. 305
245
Truong
0
Bal.
225
Gehrke
Bal. 275
170
Weiser
Bal. 155
310
160
230
225
275
155
Determine the correct amount of the end-of-month posting from the sales journal to the Accounts Receivable control account.
Please verify that all June 1 balances are in the ledgers by comparing them to the May 31, 2021 trial balance before posting. There are two tabs in the Excel spreadsheet: Income Statement Accounts and Balance Sheet Accounts. You will need both tabs to post to all the accounts.
Use the given information from the General Journal below to fill in the Ledger for the balance sheet and income statement account sheets through the month of June.
General Journal
Date
Description
Post
Ref.
Debit
Credit
June 3
Inventory
116
50,400
Accounts Payable
210
50,400
June 6
Accounts Receivable
111
17,400
Sales
410
17,400
Costs Of Goods Sold
510
12,000
Inventory
116
12,000
June 8
Notes Receivable
114
500
Bad Debt Expense
522
500
June 10
Cash
104
40,000
Salaries Payable
211
40,000
Cash
104
26,000
Office Salaries Expense…
Use the information taken from BM traders to complete the following:
1. the cash book receipts and cash book payments for july 2019
Chapter 7 Solutions
COLLEGE ACCOUNTING (LL)W/ACCESS>CUSTOM<
Ch. 7 - What is the name of the account used to record...Ch. 7 - What is a sales return? What is a sales allowance?Ch. 7 - Prob. 1.3SRQCh. 7 - Prob. 1.4SRECh. 7 - Prob. 1.5SRECh. 7 - Prob. 1.6SRACh. 7 - Prob. 2.1SRQCh. 7 - Prob. 2.2SRQCh. 7 - Prob. 2.3SRQCh. 7 - Prob. 2.4SRQ
Ch. 7 - Prob. 2.5SRECh. 7 - Prob. 2.6SRECh. 7 - Prob. 2.7SRACh. 7 - Prob. 1CSRCh. 7 - Prob. 2CSRCh. 7 - Prob. 3CSRCh. 7 - Prob. 4CSRCh. 7 - Prob. 5CSRCh. 7 - Prob. 1DQCh. 7 - Prob. 2DQCh. 7 - Prob. 3DQCh. 7 - Prob. 4DQCh. 7 - Prob. 5DQCh. 7 - Prob. 6DQCh. 7 - Prob. 7DQCh. 7 - Prob. 8DQCh. 7 - Prob. 9DQCh. 7 - Prob. 10DQCh. 7 - Prob. 11DQCh. 7 - Prob. 12DQCh. 7 - Prob. 13DQCh. 7 - Prob. 14DQCh. 7 - Prob. 15DQCh. 7 - Prob. 1ECh. 7 - Prob. 2ECh. 7 - Prob. 3ECh. 7 - Record the following transactions of Fashion Park...Ch. 7 - Prob. 5ECh. 7 - Prob. 6ECh. 7 - Prob. 7ECh. 7 - Prob. 8ECh. 7 - Prob. 9ECh. 7 - Prob. 10ECh. 7 - Prob. 1PACh. 7 - Prob. 2PACh. 7 - Prob. 3PACh. 7 - Prob. 4PACh. 7 - Prob. 5PACh. 7 - Prob. 6PACh. 7 - Prob. 1PBCh. 7 - Prob. 2PBCh. 7 - INSTRUCTIONS 1. Open the general ledger accounts...Ch. 7 - The Urban Florist is a wholesale shop that sells...Ch. 7 - Prob. 5PBCh. 7 - Prob. 6PBCh. 7 - Prob. 1CTPCh. 7 - Tony Zendejas is the owner of Housewares Galore, a...Ch. 7 - Prob. 1MFCh. 7 - Prob. 2MFCh. 7 - Prob. 3MFCh. 7 - Prob. 4MFCh. 7 - Prob. 5MFCh. 7 - Prob. 6MFCh. 7 - Prob. 7MFCh. 7 - Why should management insist that all sales on...Ch. 7 - Prob. 1ED
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