Kate Collins has opened Fontina and Stuff, a wholesale grocery and cheese company. The following transactions occurred in February

Kate Collins has opened Fontina and Stuff, a wholesale grocery and cheese company. The following transactions occurred in February:

201X

Feb. 1 Sold grocery merchandise to Fran Co. on account, $850, invoice no. 1.

4 Sold cheese merchandise to Groom Co. on account, $1,100, invoice no. 2.

8 Sold grocery merchandise to Dutch Co. on account, $1,100, invoice no. 3.

10 Issued credit memorandum no. 1 to Fran Co. for $160 of grocery merchandise returned due to spoilage.

15 Sold cheese merchandise to Groom Co. on account, $250, invoice no. 4.

19 Sold grocery merchandise to Dutch Co. on account, $650, invoice no. 5.

25 Sold cheese merchandise to Fran Co. on account, $700, invoice no. 6.

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 February?

(1)

Date 201X	Date 201X	Account Titles and Description	PR	Dr.	Dr.	Dr.	Dr.	Dr.	Cr.	Cr.	Cr.	Cr.	Cr.
Feb.	1	Accounts Receivable, Fran Co.	112/√		8	5	0	00
		Grocery Sales	411							8	5	0	00
		Sales Inv. 1 on Account to Fran
	4	Accounts Receivable, Groom Co.	112/√	1	1	0	0	00
		Cheese Sales	410						1	1	0	0	00
		Sales Inv. 2 on Account to Groom
	8	Accounts Receivable, Dutch Co.	112/√	1	1	0	0	00
		Grocery Sales	411						1	1	0	0	00
		Sales Inv. 3 on Account to Dutch
	10	Sales Returns and Allowances	412		1	6	0	00
		Accounts Receivable, Fran Co.	112/√							1	6	0	00
		Issued Credit Memo #1
	15	Accounts Receivable, Groom Co.	112/√		2	5	0	00
		Cheese Sales	410							2	5	0	00
		Sales Inv. 4 on Account to Groom
	19	Accounts Receivable, Dutch Co.	112/√		6	5	0	00
		Grocery Sales	411							6	5	0	00
		Sales Inv. 5 on Account to Dutch
	25	Accounts Receivable, Fran Co.	112/√		7	0	0	00
		Cheese Sales	410							7	0	0	00
		Sales Inv. 6 on Account to Fran

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(2)

NAME	DUTCH CO.
ADDRESS	8 JOSS AVE., LYNN, MA 01947

Date 201X	Date 201X	Explanation	Post Ref.	Debit	Debit	Debit	Debit	Debit	Credit	Credit	Credit	Credit	Credit	Dr. Balance	Dr. Balance	Dr. Balance	Dr. Balance	Dr. Balance
Feb.	8		GJ1	1	1	0	0	00						1	1	0	0	00
	19		GJ1		6	5	0	00						1	7	5	0	00

NAME	FRAN CO.
ADDRESS	942 MOSE ST., REVERE, MA 01938

Date 201X	Date 201X	Post Ref.	Debit	Debit	Debit	Debit	Credit	Credit	Credit	Credit	Dr. Balance	Dr. Balance	Dr. Balance
Feb.	1	GJ1	8	5	0	00						8	5
	10	GJ1					1	6	0	00		6	9
	25	GJ1	7	0	0	00					1	3	9

NAME	GROOM CO.
ADDRESS	10 LOST RD., TOPSFIELD, MA 01998

Date 201X	Date 201X	Explanation	Post Ref.	Debit	Debit	Debit	Debit	Debit	Credit	Credit	Credit	Credit	Credit	Dr. Balance	Dr. Balance	Dr. Balance	Dr. Balance	Dr. Balance
Feb.	4		GJ1	1	1	0	0	00						1	1	0	0	00
	15		GJ1		2	5	0	00						1	3	5	0	00

ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE	ACCOUNT NO. 112	ACCOUNT NO. 112	ACCOUNT NO. 112	ACCOUNT NO. 112	ACCOUNT NO. 112	ACCOUNT NO. 112	ACCOUNT NO. 112	ACCOUNT NO. 112	ACCOUNT NO. 112	ACCOUNT NO. 112
Date 201X	Date 201X	Explanation	Post Ref.	Debit	Debit	Debit	Debit	Debit	Credit	Credit	Credit	Credit	Credit	Balance	Balance	Balance	Balance	Balance	Balance	Balance	Balance	Balance	Balance
Date 201X	Date 201X			Debit	Debit	Debit	Debit	Debit	Credit	Credit	Credit	Credit	Credit	Debit	Debit	Debit	Debit	Debit	Credit	Credit	Credit	Credit	Credit
Feb.	1		GJ1		8	5	0	00							8	5	0	00
	4		GJ1	1	1	0	0	00						1	9	5	0	00
	8		GJ1	1	1	0	0	00						3	0	5	0	00
	10		GJ1							1	6	0	00	2	8	9	0	00
	15		GJ1		2	5	0	00						3	1	4	0	00
	19		GJ1		6	5	0	00						3	7	9	0	00
	25		GJ1		7	0	0	00						4	4	9	0	00

CHEESE SALES	CHEESE SALES	CHEESE SALES	CHEESE SALES	CHEESE SALES	CHEESE SALES	CHEESE SALES	CHEESE SALES	CHEESE SALES	CHEESE SALES	CHEESE SALES	CHEESE SALES	CHEESE SALES	CHEESE SALES	ACCOUNT NO. 410	ACCOUNT NO. 410	ACCOUNT NO. 410	ACCOUNT NO. 410	ACCOUNT NO. 410	ACCOUNT NO. 410	ACCOUNT NO. 410	ACCOUNT NO. 410	ACCOUNT NO. 410	ACCOUNT NO. 410
Date 201X	Date 201X	Explanation	Post Ref.	Debit	Debit	Debit	Debit	Debit	Credit	Credit	Credit	Credit	Credit	Balance	Balance	Balance	Balance	Balance	Balance	Balance	Balance	Balance	Balance
Date 201X	Date 201X			Debit	Debit	Debit	Debit	Debit	Credit	Credit	Credit	Credit	Credit	Debit	Debit	Debit	Debit	Debit	Credit	Credit	Credit	Credit	Credit
Feb.	4		GJ1						1	1	0	0	00						1	1	0	0	00
	15		GJJ							2	5	0	00						1	3	5	0	00
	25		GJ1							7	0	0	00						2	0	5	0	00

GROCERY SALES	GROCERY SALES	GROCERY SALES	GROCERY SALES	GROCERY SALES	GROCERY SALES	GROCERY SALES	GROCERY SALES	GROCERY SALES	GROCERY SALES	GROCERY SALES	GROCERY SALES	GROCERY SALES	GROCERY SALES	ACCOUNT NO. 411	ACCOUNT NO. 411	ACCOUNT NO. 411	ACCOUNT NO. 411	ACCOUNT NO. 411	ACCOUNT NO. 411	ACCOUNT NO. 411	ACCOUNT NO. 411	ACCOUNT NO. 411	ACCOUNT NO. 411
Date 201X	Date 201X	Explanation	Post Ref.	Debit	Debit	Debit	Debit	Debit	Credit	Credit	Credit	Credit	Credit	Balance	Balance	Balance	Balance	Balance	Balance	Balance	Balance	Balance	Balance
Date 201X	Date 201X			Debit	Debit	Debit	Debit	Debit	Credit	Credit	Credit	Credit	Credit	Debit	Debit	Debit	Debit	Debit	Credit	Credit	Credit	Credit	Credit
Feb.	1		GJ1							8	5	0	00							8	5	0	00
	8		GJ1						1	1	0	0	00						1	9	5	0	00
	19		GJ1							6	5	0	00						2	6	0	0	00

SALES RETURNS AND ALLOWANCES	SALES RETURNS AND ALLOWANCES	SALES RETURNS AND ALLOWANCES	SALES RETURNS AND ALLOWANCES	SALES RETURNS AND ALLOWANCES	SALES RETURNS AND ALLOWANCES	SALES RETURNS AND ALLOWANCES	SALES RETURNS AND ALLOWANCES	SALES RETURNS AND ALLOWANCES	SALES RETURNS AND ALLOWANCES	SALES RETURNS AND ALLOWANCES	SALES RETURNS AND ALLOWANCES	SALES RETURNS AND ALLOWANCES	SALES RETURNS AND ALLOWANCES	ACCOUNT NO. 412	ACCOUNT NO. 412	ACCOUNT NO. 412	ACCOUNT NO. 412	ACCOUNT NO. 412	ACCOUNT NO. 412	ACCOUNT NO. 412	ACCOUNT NO. 412	ACCOUNT NO. 412	ACCOUNT NO. 412
Date 201X	Date 201X	Explanation	Post Ref.	Debit	Debit	Debit	Debit	Debit	Credit	Credit	Credit	Credit	Credit	Balance	Balance	Balance	Balance	Balance	Balance	Balance	Balance	Balance	Balance
Date 201X	Date 201X			Debit	Debit	Debit	Debit	Debit	Credit	Credit	Credit	Credit	Credit	Debit	Debit	Debit	Debit	Debit	Credit	Credit	Credit	Credit	Credit
Feb.	10		GJ1		1	6	0	00							1	6	0	00
(3)

Dutch Co.	$1	7	5
Fran Co.	1	3	9
Groom Co.	1	3	5
Total Accounts Receivable	$4	4	9