Reference no: EM131537238
Question: Posting to general and subsidiary ledgers The journals, subsidiary ledgers, and selected general ledger accounts for Auto Restoration, Inc., are given in the Working Papers. Instructions: 1. Post the separate items in the following journals to the general and subsidiary ledgers. Use the current year. Note that some postings will be out of order by date because posting of individual amounts is not being done weekly.
a. Sales journal to the accounts receivable ledger.
b. Purchases journal to the accounts payable ledger.
c. General journal to the accounts payable, accounts receivable, and general ledger.
d. Cash receipts journal to the accounts receivable ledger.
e. Cash payments journal to the accounts payable and general ledgers.
2. Post the totals of the special amount columns of the sales, purchases, cash receipts, and cash payments journals.
3. Prepare a schedule of accounts payable and a schedule of accounts receivable. Compare the totals of the schedules with the balances of the controlling accounts, Accounts Payable and Accounts Receivable, in the general ledger. If the totals are not the same, find and correct the errors
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: Posting to general and subsidiary ledgers The journals, subsidiary ledgers, and selected general ledger accounts for Auto Restoration, Inc., are given.
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