Question

Using the following revenue journal for Bowman Cleaners Inc., identify each of the posting references, indicated by a letter, as representing (1) posting to general ledger accounts or (2) posting to subsidiary ledger accounts: REVENUE JOURNAL Invoice No. Post. Accounts Rec. Dr. Ref.Fees Earned Cr Date 20Y3 May 1 Account Debited 112 113 Hazmat Safety Co. Masco Co. 10 20 114 Alpha GenCorp 27 115 Tillman Inc. 31 $2,050 980 2,800 1,240 $7,070 EX 5-2 Accounts receivable ledger Based on the data presented in Exercise 5-1, assume that the beginning balances for the customer accounts were zero, except for Tillman Inc., which had a $590 beginning bal- ance. In addition, there were no collections during the period. a. Set up a T account for Accounts Receivable and T accounts for the four accounts OBJ. 2 needed in the customer ledger b. Post to the T accounts. c. Determine the balance in the accounts. d. Prepare a listing of the accounts receivable customer balances as of May 31, 20Y3.

 



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