Winslow Company posts its sales invoices directly and then binds them into a Sales Journal. Winslow had the following credit sales to these customers during June.
June 2
Joe Mack
$ 3,600
8
Eric Horner
6,100
10
Tess Wilson
13,400
14
Hong Jiang
20,500
20
11,200
29
7,300
Â
Total credit sales
$62,100
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.
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