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Prepare a list of customers and prove the agreement

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Reference no: EM131139882

1. On September 1 the balance of the Accounts Receivable control account in the general ledger of Seaver Company was $10,960.The customers' subsidiary ledger contained account balances as follows: Ruiz $1,440, Kingston $2,640, Bannister $2,060, Crampton $4,820. At the end of September the various journals contained the following information. Sales journal: Sales to Crampton $800; to Ruiz $1,260; to Iman $1,330; to Bannister $1,100. Cash receipts journal: Cash received from Bannister $1,310; from Crampton $2,300; from Iman $380; from Kingston $1,800; from Ruiz $1,240. General journal: An allowance is granted to Crampton $220.

Instructions

(a) Set up control and subsidiary accounts and enter the beginning balances. Do not construct the journals.

(b) Post the various journals. Post the items as individual items or as totals, whichever would be the appropriateprocedure. (No sales discounts given.)

(c) Prepare a list of customers and prove the agreement of the controlling account with the subsidiary ledger at September 30, 2010. 

Reference no: EM131139882

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