Warton Company posts individual sales to the accounts receivable subsidiary ledger immediately. At the end of each month, Warton posts the end-of-month totals to the general ledger. July 2 Mary Mack . . . . . . . . . . . . . . . . $ 8,600 8 Eric Horner . . . . . . . . . . . . . . . . 11,100 10 Troy Wilson . . . . . . . . . . . . . . . . 13,400 14 Hong Jiang . . . . . . . . . . . . . . . . 20,500 20 Troy Wilson . . . . . . . . . . . . . . . . 11,200 29 Mary Mack . . . . . . . . . . . . . . . . 7,300 Total credit sales . . . . . . . . . . . . $72,100 1. Open an accounts receivable subsidiary ledger with a T-account for each customer. Post the amounts to the subsidiary ledger. 2. Open an Accounts Receivable controlling T-account and a Sales T-account to reflect general ledger accounts. Post the end-of-month total to these accounts. 3. Prepare a schedule of accounts receivable and prove (confirm) that its total equals the Accounts Receivable controlling account balance.
Warton Company posts individual sales to the accounts receivable subsidiary ledger immediately. At the
end of each month, Warton posts the end-of-month totals to the general ledger. July 2 Mary Mack . . . . . . . . . . . . . . . . $ 8,600 8 Eric Horner . . . . . . . . . . . . . . . . 11,100
10 Troy Wilson . . . . . . . . . . . . . . . . 13,400
14 Hong Jiang . . . . . . . . . . . . . . . . 20,500
20 Troy Wilson . . . . . . . . . . . . . . . . 11,200
29 Mary Mack . . . . . . . . . . . . . . . . 7,300
Total credit sales . . . . . . . . . . . . $72,100 1. Open an accounts receivable subsidiary ledger with a T-account for each customer. Post the amounts
to the subsidiary ledger.
2. Open an Accounts Receivable controlling T-account and a Sales T-account to reflect general ledger
accounts. Post the end-of-month total to these accounts.
3. Prepare a schedule of accounts receivable and prove (confirm) that its total equals the Accounts
Receivable controlling account balance.
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