Reference no: EM133057942
Question - Maddie Inc. has the following transactions for its first month of business.
May 1 Credit sale to Green Lantern Inc. for $1,999
May 2 Credit sale to Wonder Woman Inc. for $2,000
May 3 Credit sale to Flash Inc. for $3,050
May 4 Received $1,000 on account from Green Lantern Inc.
May 5 Credit sale to Black Panther Inc. for $1,875
May 6 Received the full amount from Flash Inc.
Required -
1. What are the individual account balances, and the total balance, in the accounts receivable subsidiary ledger?
2. What is the balance in the accounts receivable general ledger (control) account?