PLEASE FOLLOW THE INSTRUCTIONS Assignment: Special Journals: Sales and Cash Rece
ID: 2576198 • Letter: P
Question
PLEASE FOLLOW THE INSTRUCTIONS
Assignment: Special Journals: Sales and Cash Receipts (12 Points)
Prepare a cash receipts journal based on the information given below and post it to the Accounts Receivable Subsidiary Ledger.
On Nov 17, Ms. Don & Co. received $1,450 from Gians Graze to apply on account. The source document for this transaction is Receipt 30.
Instructions:
1. Prepare a sales journal entry based on the information given above and post it to the Accounts Receivable General Ledger account and to the Accounts Receivable Subsidiary Ledger. (Use November 7 for this transaction date.) ***This is the same entry that you made for the previous assignment. However, use the transaction date given (Nov. 7).
2. Enter the above transaction (Nov 17) into the Cash Receipts Journal and post it to the Accounts Receivable General Ledger account and to the Accounts Receivable Subsidiary Ledger.
3. Prepare a Schedule of Accounts Receivable and check to see that the total agrees with the Accounts Receivable ledger account.
Doc.
No.
Post
Ref.
Post
Ref.
Sales Credit
Post
ref.
Ms. Don & Co.
Schedule of Accounts Receivable November 30, 20xx
Sales Journal DateDoc.
No.
Customer's Account NamePost
Ref.
Sales Credit Sales Tax Payable Credit Accounts Receivable DebitExplanation / Answer
Sales Journal Date Doc. Customer's Account Name Post Sales Credit Sales Tax Payable Credit Accounts Receivable Debit No. Ref. Nov 7 Gians Graze $1,450 $1,450 Cash Receipt Journal Date Doc. No. Account Name Post Sales Credit Sales Tax Payable Credit Account Receivable Credit Sales Discount Credit Cash in Bank Debit Ref. Nov 17 Receipt30 Gians Graze $1,450 $1,450 ACCOUNTS RECEIVABLE Date Particulars Post Debit Credit Balance ref. Debit Credit Nov 7 Sales $1,450 $1,450 Nov 17 Cash $1,450 $0 $0 Ms. Don & Co. Schedule of Accounts Receivable November 30, 20xx Account name Amount Sales $1,450 Cash $1,450 Total account receivable $0
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