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Warton company posts its sales invoices

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Reference no: EM13904836

Warton Company posts its sales invoices directly and then binds them into a Sales Journal. The company had the following credit sales to these customers during July. 

July 2 Mary Mack . . . . . . . . . . $ 8,600
8 Eric Horner . . . . . . . . . . . . . 11,100
10 Troy Wilson . . . . . . . . . . . 13,400
14 Hong Jiang . . . . . . . . . . . . 20,500
20 Troy Wilson . . . . . . . . . . . 11,200
29 Mary Mack . . . . . . . . . . . . 7,300
Total credit sales . . . . . . . . . . $ 72,100

Required: 

1. Open an accounts receivable subsidiary ledger having a T-account for each customer. Post the invoices to the subsidiary ledger. 

2. Open an Accounts Receivable controlling T-account and a Sales T-account to reflect general ledger accounts. Post the end of month total from the sales journal to these accounts. 

3. Prepare a schedule of accounts receivable and prove that its total equals the Accounts Receivable controlling account balance.

Reference no: EM13904836

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