Question: Following is information from Thompson Company for its initial month of business.
(1) Identify the balances listed in the accounts receivable subsidiary ledger.
(2) Identify the accounts receivable balance listed in the general ledger at month's end.
Credit Sales Cash Collections
Jan. 10 Boerman Company . . . . . . . . $3,000 Jan. 20 Boerman Company . . . . . . . . $2,000
19 Lehman Brothers . . . . . . . . . . 1,600 28 Lehman Brothers . . . . . . . . . . 1,600
23 Finger Company . . . . . . . . . . . 2,200 31 Finger Company . . . . . . . . . . . 1,300