Post the following entry to the general ledger and subsidiary ledger. GENERAL JOURNALPage 52Post.DateDescriptionRef.DebitCredit20--August 16Sales Returns and Allowances286 42Accounts Receivable, F. E. Dixon286 42Issued credit memo no. 131.GENERAL LEDGERACCOUNT Accounts ReceivableACCOUNT NO. 113Post.BalanceDateItemRef.DebitCreditDebitCredit20--August 1Balance52 1436 ACCOUNT Sales Returns and AllowancesACCOUNT NO. 412Post.BalanceDateItemRef.DebitCreditDebitCredit20--August 1Balance2 18 40ACCOUNTS RECEIVABLE LEDGERNAMEF. E. DixonADDRESS 416 Fifth AvenueDallas, TX 75204Post.DateItemRef.DebitCreditBalance20--July31J51460 15460 15

General Ledger: General Ledger, also known as the Nominal Ledger, is a central repository for…

Answered: GENERAL JOURNAL Page 52 Post. Date…

GENERAL JOURNAL Page 52 Post. Date Description Ref. Debit Credit 20-- August 16 Sales Returns and Allowances 286 42 Accounts Receivable, F. E. Dixon 286 42 Issued credit memo no. 131.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 9SEB: SCHEDULE OF ACCOUNTS RECEIVABLE From the accounts receivable ledger shown, prepare a schedule of...

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

100%

Post the following entry to the general ledger and subsidiary ledger.

GENERAL JOURNAL
Page 52
Post.
Date
Description
Ref.
Debit
Credit
20--
August 16
Sales Returns and Allowances
286 42
Accounts Receivable, F. E. Dixon
286 42
Issued credit memo no. 131.
GENERAL LEDGER
ACCOUNT Accounts Receivable
ACCOUNT NO. 113
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20--
August 1
Balance
52 1436

ACCOUNT Sales Returns and Allowances
ACCOUNT NO. 412
Post.
Balance
Date
Item
Ref.
Debit
Credit
Debit
Credit
20--
August 1
Balance
2 18 40
ACCOUNTS RECEIVABLE LEDGER
NAME
F. E. Dixon
ADDRESS 416 Fifth Avenue
Dallas, TX 75204
Post.
Date
Item
Ref.
Debit
Credit
Balance
20--
July
31
J51
460 15
460 15

Definition Definition Act of publishing journal entries in their respective general ledger accounts to create a consolidated view of an account. At the end of the fiscal year, ledger accounts are balanced and account balances in every ledger are consolidated together to create the trial balance.

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