On 1 August the balance of the Accounts receivable control account for Young Rental Company was $10 500. The customers' subsidiary ledger contained account balances as follows:
At the end of August the special journals contained the following information:
Required:
(a) Set up control and subsidiary ledger accounts and post the necessary data from the journals to the ledger accounts
(b) Prepare a schedule of customers and check the total against the balance of the control account

Question

On 1 August the balance of the Accounts receivable control account for Young Rental Company was $10 500. The customers' subsidiary ledger contained account balances as follows:
  At the end of August the special journals contained the following information:
  Required:
(a) Set up control and subsidiary ledger accounts and post the necessary data from the journals to the ledger accounts
(b) Prepare a schedule of customers and check the total against the balance of the control account

Quizplus · Accepted Answer

The Answer of On 1 August the balance of the Accounts receivable control account for Young Rental Company was $10 500. The customers' subsidiary ledger contained account balances as follows:
  At the end of August the special journals contained the following information:
  Required:
(a) Set up control and subsidiary ledger accounts and post the necessary data from the journals to the ledger accounts
(b) Prepare a schedule of customers and check the total against the balance of the control account

On 1 August the Balance of the Accounts Receivable Control