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Date Invoice No. Account debited Post Ref. Accounts Rec. Dr, Fees earned 2014 Mar. 1 112 Hazmat Safty Co. (A) $2,875 10 113 Masco Co. (B) 980 20 114 Eco-Systems (C) 1,700 27 115 Sunrise Enterprises (D) 1,240 30 $6,795 (E) Based on the data presented in Exercise 5-1, assume that the beginning balances for the customer accounts were zero, except for Sunrise Enterprises, which had a $480 beginning balance. In addition, there were no collections during the period. a. Set up a T account for Accounts Receivable and T accounts for the four accounts needed in the customer ledger. b. Post to the T accounts. c. Determine the balance in the accounts. d. Prepare a listing of the accounts receivable customer balances as of March 31, 2014.
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