On September 1, the balance of the Accounts Receivable control account in the general ledger of Montgomery Company was $10,960.
The customers’ subsidiary ledger contained account balances as follows: Hurley $1,440, Andino $2,640, Fowler $2,060, and Sogard $4,820. At the end of September, the various journals contained the following information.
Sales journal:
Sales to Sogard $800, to Hurley $1,260, to Giambi $1,330, and to Fowler $1,600.
Cash receipts journal:
Cash received from Fowler $1,310, from Sogard $3,300, from Giambi $380, from Andino $1,800, and from Hurley $1,240.
General journal:
An allowance is granted to Sogard $220.
Exercise 7-3 (Part Level Submission) On September
Exercise 7-3 (Part Level Submission) On September
Collapse question part
(a) Set up control and subsidiary accounts and enter the beginning balances.
Sales journal:
Sales to Sogard $800, to Hurley $1,260, to Giambi $1,330, and to Fowler $1,600.
Cash receipts journal:
Cash received from Fowler $1,310, from Sogard $3,300, from Giambi $380, from Andino $1,800, and from Hurley $1,240.
General journal:
An allowance is granted to Sogard $220.
Exercise 7-3 (Part Level Submission) On September
Exercise 7-3 (Part Level Submission) On September
Collapse question part
(a) Set up control and subsidiary accounts and enter the beginning balances.
1 answer:
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