Home / Questions / Sandra Hills has opened Macchiato and More a wholesale grocery and coffee company. The fol...
Sandra Hills has opened Macchiato and More, a wholesale grocery and coffee company. The following transactions occurred in June: 201X June 1 Sold grocery merchandise to Fran Co. on account, $700, invoice no. 1. 4 Sold coffee merchandise to Groom Co. on account, $650, invoice no. 2. 8 Sold grocery merchandise to Dutch Co. on account, $750, invoice no. 3. 10 Issued credit memorandum no. 1 to Fran Co. for $170 of grocery merchandise returned due to spoilage. 15 Sold coffee merchandise to Groom Co. on account, $700, invoice no. 4. 19 Sold grocery merchandise to Dutch Co. on account, $700, invoice no. 5. 25 Sold coffee merchandise to Fran Co. on account, $400, invoice no. 6. Required 1. Journalize the transactions. 2. Record to the accounts receivable subsidiary ledger and post to the general ledger as appropriate. 3. Prepare a schedule of accounts receivable for the end of June.
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