Question

Caprossi and Associates Accounts Receivable Control account in the general ledger on 1 August was $17 755. The subsidiary ledger contained the following accounts receivable accounts and balances at the same date: Andino $2330, Trakas $4277, Rokos $3337, Collias $7811. At 30 August, a summary of entries made in the journals shown were as follows.

• General journal: Collias returned goods for a credit of $178.
• Sales journal: Recorded credit sales were: Collias $1290, Andino $2180, Gabris $1670, Rokos $1780.
• Cash receipts journal: Cash amounts received from accounts receivable were (no discounts were allowed): Collias $3730, Gabris $660, Rokos $2120, Trakas $2920, Andino $2010.

Required

1. Enter the opening balances of the control account and subsidiary ledger accounts and post the August entries and totals in the three journals to the accounts (ignore GST). (6.5 marks)
2. Prepare a schedule of accounts receivable at 30 August and reconcile the total with the control account in the general ledger. (3.5 marks) NOTE: Please use the format of following tables.

Accounts Receivable Control A/c
Date	Explanation	Post Ref.	Debit     $	Credit $	Balance $

1. Accounts Receivable Subsidiary Ledger

Accounts Receivable (Name)
Explanation	Post Ref.	Debit       $	Credit     $	Balance $

Schedule of Accounts Receivable as at Date
Explanation		Amount $

Answer 1