On July 31,Orwell Co.has $448,800 of accounts receivable.
Required:
1.Prepare journal entries to record the following selected August transactions.The company uses the perpetual inventory system.
2.Explain what should be included in the footnotes to the August 31 financial statements as a result of these transactions.
3.Calculate the balance in the Accounts Receivable account as of August 10.

Question

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The Answer of On July 31,Orwell Co.has $448,800 of accounts receivable.
Required:
1.Prepare journal entries to record the following selected August transactions.The company uses the perpetual inventory system.
2.Explain what should be included in the footnotes to the August 31 financial statements as a result of these transactions.
3.Calculate the balance in the Accounts Receivable account as of August 10.

On July 31,Orwell Co.has $448,800 of Accounts Receivable