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College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

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Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

SCHEDULE OF ACCOUNTS RECEIVABLE Based on the information provided in Problem 10-12B, prepare a schedule of accounts receivable for Paul Jackson as of April 30, 20--. Verify that the accounts receivable account balance in the general ledger agrees with the schedule of accounts receivable total.

To determine

Prepare the schedule of accounts receivable for PJ as at April 30, 20--.

Explanation

Accounts receivable schedule: This is the schedule which is prepared to verify that the total balances of all the customers in the accounts receivable ledger, equals the balance of Accounts Receivable in the general ledger.

Prepare the schedule of accounts receivable for PJ as at April 30, 20--.

PJ
Schedule of Accounts Receivable
April 30, 20--
OLM$984.40
KM1,573.40
AP2,482.40
MR1,064.05
Total$6,104.25

Table (1)

Working Notes:

Prepare the customer accounts in accounts receivable ledger.

NAME          OLM
ADDRESS
DateItemPost. Ref.Debit ($)Credit ($)Balance ($)
20--     
April1  2,247.00 2,247.00
 6   53.502,193.50
 9   2,193.500
 24  984.40 984.40

Table (2)

NAME          KM
ADDRESS
DateItemPost. Ref.Debit ($)Credit ($)Balance ($)
20--     
April1Balance  482...

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