ch 07 Ex 7-1? Val Company recorded the following selected transactions during No

Question

ch 07 Ex 7-1? Val Company recorded the following selected transactions during November Current Year al Journal Nov. 5 Accounts Receivable-Ski Shop Date 5,035 Part 1 of 2 Sales 5,035 10 Accounts Receivable-Welcome Enterprises 1,262 Sales 1,262 10 points 13 Accounts Receivable-Zia Natara Sales 191 21 Sales Returns and Allowances 191 Accounts 2,631 30 Accounts Receivable-Ski Shop Sales 2,631 Exercise 7-1 Part1 1. Prepare a general ledger having T-accounts for Accounts Recelvable, Sales, and Sales Returns and Allowances. Post these entries to beeh the general ledger and the accounts receivable ledger Prev 1.2 of 2?ll Next> Type here to search

Explanation / Answer

General Ledger Account Receivable Date Amount ($) Date Amount ($) 05-Nov 5035 21-Nov 191 10-Nov 1262 13-Nov 740 30-Nov 2631 Sales A/c Date Amount ($) Date Amount ($) 05-Nov 5035 10-Nov 1262 13-Nov 740 30-Nov 2631 Sales Retrun & Allowance Date Amount ($) Date Amount ($) 21-Nov 191 Account receivable Ledger Date Description Debit ($) Credit($) Balance ($) 05-Nov Sale to Ski shop 5035 5035 10-Nov Sale to welcome enterprise 1262 6297 13-Nov Sale to zia natara 740 7037 21-Nov Return from zia natara 191 6846 30-Nov Sale to Ski shop 2631 9477

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