PA4. 7.4 Use the journals and ledgers that follow. Total the journals. Post the transactions to thesubsidiary ledger and (using T-accounts) to the general ledger accounts. Then prepare a schedule ofaccounts receivable.SALES JOURNALPage 79DR Accts.DR COGS CRReceivableMerchandiseDateAccountInvoice No.Ref.CR SalesInventory2019Evert Company (E123)King Inc. (K331)Martina Inc. (M132)Shriver Company (S101)Feb. 4174331,000.00Feb. 817434775.30Feb. 14174352,301.99Feb. 1617436500.00SALES JOURNALPage 102AccountsSalesReceivable,Discounts Sales, or OtherAccounts CRDateAccountInvoice No.Ref.Cash DRDR2019Feb. 1Cash Sales465465Payment from EvertFeb. 15 Bank loan (230)Feb. 21 Payment from Shriver Co.Feb. 51723980201,0002,0002,0001719500500 Inv.Post.Recievable DR.Customer's Name/AccountNo.Ref.Sales CR.Date20xx04-Febpg. 102CASH RECEIPTS JOURNALAccountsSalesReceivable,InvoicePost.CashDateAccount CreditedDiscountsSales or OtherNo.Ref.DebitDebitAccountsCredit20хх01-Feb

Posting - It is the process when the balance of sub ledgers and journal ledger are shifted to…

PA4. 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 Accts. DR COGS CR Receivable Merchandise Date Account Invoice No. Ref. CR Sales Inventory 2019 Feb. 4 Evert Company (E123) King Inc. (K331) Martina Inc. (M132) Shriver Company (S101) 17433 1,000.00 775.30 Feb. 8 17434 Feb. 14 17435 2,301.99 Feb. 16 17436 500.00 SALES JOURNAL Page 102 Accounts Receivable, Discounts Sales, or Other Accounts CR Sales Date Account Invoice No. Ref. Cash DR DR 2019 Feb. 1 Cash Sales 465 465 Payment from Evert Feb. 15 Bank loan (230) Feb. 21 Payment from Shriver Co. Feb. 5 1723 980 20 1,000 2,000 2,000 1719 500 500

PA4. 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 Accts. DR COGS CR Receivable Merchandise Date Account Invoice No. Ref. CR Sales Inventory 2019 Feb. 4 Evert Company (E123) King Inc. (K331) Martina Inc. (M132) Shriver Company (S101) 17433 1,000.00 775.30 Feb. 8 17434 Feb. 14 17435 2,301.99 Feb. 16 17436 500.00 SALES JOURNAL Page 102 Accounts Receivable, Discounts Sales, or Other Accounts CR Sales Date Account Invoice No. Ref. Cash DR DR 2019 Feb. 1 Cash Sales 465 465 Payment from Evert Feb. 15 Bank loan (230) Feb. 21 Payment from Shriver Co. Feb. 5 1723 980 20 1,000 2,000 2,000 1719 500 500

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 4PA: Use the journals and ledgers that follow. Total the journals. Post the transactions to the...

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