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Exercise 7.10 Preparing a schedule of accounts receivable. LO 7-5 Post the entries in the general journal...

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Accounting

Exercise 7.10 Preparing a schedule of accounts receivable. LO7-5

Post the entries in the general journal below to the AccountsReceivable account in the general ledger and to the appropriateaccounts in the accounts receivable ledger for CalderoneCompany.

Assume the following account balances at January 1,2019:

AccountsReceivable (control account)$8,520
AccountsReceivable—John Gibrone5,300
AccountsReceivable—Jim Garcia2,150
AccountsReceivable—June Lin1,070

  

GENERAL JOURNAL
DATEDESCRIPTIONPOST.
REF.		DEBITCREDIT
2019
Jan.8Cash530
AccountsReceivable/John Gibrone530
Received partialpayment on
account fromJohn Gibrone
20Sales Returnsand Allowances300
Sales TaxPayable24
AccountsReceivable/Jim Garcia324
Accept return ofdefective
merchandise,Credit
Memorandum 121;original sale
made on SalesSlip 11102 of
December 27,2018
  1. Prepare a schedule of accounts receivable for CalderoneCompany at January 31, 2019.
  2. Should the total of your accounts receivable schedule agreewith the balance of the Accounts Receivable account in the generalledger at January 31, 2019?

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