Question

At the end of May, the sales journal of Mountain View appears as follows. Assume beginning inventory balance for May to be $15,908.
  

Date	Account Debited	Invoice Number	PR	Accounts Receivable Dr. Sales Cr.			Cost of Goods Sold Dr. Inventory Cr.
May 6	Aaron Reckers	190			4,650			3,534
10	Sara Reed	191			3,710			3,061
17	Anna Page	192			1,651			971
25	Sara Reed	193			660			388
31	Totals				10,671			7,954

  
Mountain View also recorded the return of defective merchandise with the following entry.

Date	General Journal	Debit	Credit
May 20	Sales Returns and Allowances	450
	Accounts Receivable—Anna Page		450
	Customer returned (worthless) merchandise.

Required:
1. Post to the customer accounts the entries in the sales journal and any portion of the general journal entry that affects a customer's account.
2. Post the sales journal and any portion of the general journal entry that affects these accounts.
3. Prepare a schedule of accounts receivable.
  

Answer 1

Account receivable - Subsidiary ledger
Anna page
Date	Debit	Credit	Balance
17-May	1651		1651
20-May		450	1201
Sara Reed
Date	Debit	Credit	balance
10-May	3,710		3,710
25-May	660		4,370
Aaron Checkers
Date	Debit	Credit	balance
6-May	4650		4650
General Ledger
Account receivable
Date	Debit	credit	balance
31-May	10,671		10,671
31-May		450	10,221
Sales
Date	debit	crdit	balance
31-May		10671	10671
sales return & allowances
Date	Debit	Credit	balance
31-May	450		450
Inventory
date	debit	credit	balance
opening	15908		15908
31-May		7954	7954
Cost of goods sold
Date	Debit	Credit	balance
31-May	7954		7954
Schedule of account receivable
31-May
Anna page		1201
Sara Reed		4370
Aaron Reckers		4650
total account receivable		10221