R J Hinton Company sells electrical supplies on a

wholesale
R. J. Hinton Company sells electrical supplies on a wholesale basis. The balances of the
accounts as of April 1 have been recorded in the general ledger in your Working Papers or in
CengageNow. The following transactions took place during April of this year: Apr. 3 Sold
merchandise on account to Maxwell Company, invoice no. 822, $ 652.80. 7 Sold merchandise
on account to B. A. Fitzpatrick Company, invoice no. 823, $ 462.15. 8 Sold merchandise on
account to Durham Hardware, invoice no. 824, $ 205.60. 13 Issued credit memo no. 61 to B. A.
Fitzpatrick Company for merchandise returned, $ 136.50. 15 Sold merchandise on account to
Briggs and Campos, invoice no. 825, $ 831.47. 21 Sold merchandise on account to Pena and
Carr, invoice no. 826, $ 590.34. 24 Issued credit memo no. 62 to Briggs and Campos for
merchandise returned, $ 80.45.Apr. 26 Sold merchandise on account to O’Neill Company,
invoice no. 827, $ 569.90.28 Issued credit memo no. 63 to Durham Hardware for damage to
merchandise, $ 52.48. 30 Sold merchandise on account to Durham Hardware, invoice no. 828,
$ 735.50. Required 1. Record these sales of merchandise on account in the sales journal (page
39). Record the sales returns and allowances in the general journal (page 74). 2. Immediately
after recording each transaction, post to the accounts receivable ledger. 3. Post the amounts
from the general journal daily. Post the sales journal amount as a total at the end of the month:
Accounts Receivable 113, Sales 411, Sales Returns and Allowances 412. 4. Prepare a
schedule of accounts receivable. Compare the balance of the Accounts Receivable controlling
account with the total of the schedule of accounts receivable.View Solution: R J Hinton
Company sells electrical supplies on a wholesale
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