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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Sami Company recorded the following selected transactions during November 2011.
|
Nov. 5 |
Accounts Receivable—Surf Shop |
4,417 |
 | |
| Â |
Sales |
 |
4,417 |
|
|
10 |
Accounts Receivable—Yum Enterprises |
1,250 |
 | |
| Â |
Sales |
 |
1,250 |
|
|
13 |
Accounts Receivable—Matt Albin |
733 |
 | |
| Â |
Sales |
 |
733 |
|
|
21 |
Sales Returns and Allowances |
189 |
 | |
| Â |
Accounts Receivable—Matt Albin |
 |
189 |
|
|
30 |
Accounts Receivable—Surf Shop |
2,606 |
 | |
| Â |
Sales |
 |
2,606 |
|
| Â | Â | Â | Â | Â |
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 (see Exhibit 9.4) and compare its total with the balance of the Accounts Receivable controlling account as of November 30.
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