On December 1 the Accounts Receivable Control Account Balance in the General

question 143

Essay

On December 1 the accounts receivable control account balance in the general ledger of the Picard Company was $9500. The accounts receivable subsidiary ledger contained the following detailed customer balances: Selig $2000 Jobs $2400 Taylor $2600 and Burton $2500. The following information is available from the company's special journals for the month of December:
Cash Receipts Journal: Cash received from Taylor $2600 from Selig $1300 from Munoz $1700 and from Jobs $1800.
Sales Journal: Sales to Minoz $3400 to Taylor $1800 to Selig $3100 and to Burton $1900.
Additionally Taylor returned defective merchandise for credit for $680. Selig returned defective merchandise for $600 which he had purchased for cash.
Instructions
(a) Using T-accounts for Accounts Receivable Control and the detail customer accounts post the activity for the month of December.
(b) Reconcile the accounts receivable control account with the subsidiary ledger by preparing a detail list of customer balances at December 31.

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Definitions:

Intertidal Zone

The area of the shoreline that is exposed to the air at low tide and submerged under water at high tide, home to diverse organisms.

Mussels

Aquatic mollusks with a bivalve shell, widely consumed as seafood, and known for their role in aquatic ecosystems as filter feeders.

Keystone

An essential element or species that plays a critical role in maintaining the structure of an ecological community, affecting many other organisms within the community.

Disproportionately

To an extent that is too large or too small in comparison with something else or in relation to the whole.