Question: Sami Company recorded the following selected transactions during November 2011.
Nov. 5 Accounts Receivable-Surf Shop . . . . . . . . . . . . . . . . . . 4,417
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,417
10 Accounts Receivable-Yum Enterprises . . . . . . . . . . . . 1,250
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,250
13 Accounts Receivable-Matt Albin . . . . . . . . . . . . . . . . . . 733
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 733
21 Sales Returns and Allowances . . . . . . . . . . . . . . . . . . . . . 189
Accounts Receivable-Matt Albin . . . . . . . . . . . . . . 189
30 Accounts Receivable-Surf Shop . . . . . . . . . . . . . . . . . . 2,606
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,606
1. Open a general ledger having T-accounts for Accounts Receivable, Sales, and Sales Returns and Allowances. Also open an accounts receivable subsidiary ledger having a T-account for each customer. Post these entries to both the general ledger and the accounts receivable ledger.
2. Prepare a schedule of accounts receivable and compare its total with the balance of the Accounts Receivable controlling account as of November 30.