INSTRUCTIONS 1. Record the transactions in the proper journal. Use 7 as the page number for the sales journal and 11 as the page number for the general journal. 2. Immediately after recording each transaction, post to the accounts receivable ledger. 3. Post the amounts from the general journal daily. Post the sales journal amount as a total at the end of the month. 4. Prepare a schedule of accounts receivable. Compare the balance of the Accounts Receivable control account with the total of the schedule. Analyze: Damaged goods decreased sales by what dollar amount? By what percentage
INSTRUCTIONS 1. Record the transactions in the proper journal. Use 7 as the page number for the sales journal and 11 as the page number for the general journal. 2. Immediately after recording each transaction, post to the accounts receivable ledger. 3. Post the amounts from the general journal daily. Post the sales journal amount as a total at the end of the month. 4. Prepare a schedule of accounts receivable. Compare the balance of the Accounts Receivable control account with the total of the schedule. Analyze: Damaged goods decreased sales by what dollar amount? By what percentage
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter10: Accounting For Sales And Cash Receipts
Section: Chapter Questions
Problem 1MP
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Problem 7.4A Recording sales transactions, posting to the accounts receivable ledger, and preparing a schedule of accounts receivable. The Problem is attached.
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