Holooly Plus Logo
Holooly Plus Logo

Question 5.2: Accounts Receivable Subsidiary Ledger The debits and credits......

Accounts Receivable Subsidiary Ledger

The debits and credits from two transactions are presented in the following customer account:

NAME                    Sweet Tooth Confections
ADDRESS             1212 Lombard St.

Describe each transaction and the source of each posting.

Date Item Post. Ref. Debit Credit Balance
July     1 Balance 625
7 Invoice 35 R12 86 711
31 Invoice 35 CR4 122 589
Step-by-Step
The 'Blue Check Mark' means that this solution was answered by an expert.
Learn more on how do we answer questions.
Report Answer

July   7.   Provided $86 of services on account to Sweet Tooth Confections, itemized on Invoice No. 35. Amount posted from page 12 of the revenue journal.

31.   Collected cash of $122 from Sweet Tooth Confections (Invoice No. 31) . Amount posted from page 4 of the cash receipts journal.

Related Answered Questions

Question: 5.IP

Selected transactions of O’Malley Co. for the month of May are as follows: a. May 1. Issued Check No. 1001 in payment of rent for May, $1,200. b. 2. Purchased office supplies on account from McMillan Co., $3,600. c. 4. Issued Check No. 1003 in payment of freight charges on the supplies purchased on ...

Verified Answer:

Question: 5.5

Segment Analysis Morse Company does business in two regional segments: East and West. The following annual revenue information was determined from the accounting system’s invoice information: ...

Verified Answer:

Horizontal analysis:
Question: 5.4

Accounts Payable Subsidiary Ledger The debits and credits from two transactions are presented in the following creditor’s (supplier’s) account: NAME Lassiter Services Inc. ADDRESS 301 St. Bonaventure Ave. ...

Verified Answer:

Aug. 12.   Paid $200 to Lassiter Services Inc. on ...
Question: 5.3

Purchases Journal The following purchase transactions occurred during October for Helping Hand Cleaners: Oct. 11. Purchased cleaning supplies for $235, on account, from General Supplies. 19. Purchased cleaning supplies for $110, on account, from Hubble Supplies. 24. Purchased office equipment for ...

Verified Answer:

PURCHASES JOURNAL
Question: 5.1

Revenue Journal The following revenue transactions occurred during December Dec. 5. Issued Invoice No. 302 to Butler Company for services provided on account, $5,000. 9. Issued Invoice No. 303 to JoJo Enterprises for services provided on account, $2,100. 15. Issued Invoice No. 304 to Double D Inc. ...

Verified Answer:

REVENUE JOURNAL