Carpet Land Co.
For the Year Ended October 31, 2012
Revenues from sales:
Less: Sales returns and allowances
(a) Beltran Industries 144 days (over 90)
Doodle Company 72 days (61-90)
La Corp Inc. 45 days (31-60)
VIP Sales Company 26 days (1-30)
We-Go Company Not Past Due
Able Brothers Inc.
First of all, before journalizing the five entries that adjusted the accounts at August 31, I
determined the balance of the accounts before adjusted entries and after. That helped me to
understand where it goes