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Bean Counters Coffeehouse Schedule of Accounts Receivable June 30, 2012 Account No. Name 110-1 ARC - Quick Bolt Coffee 110-2 ARC Revamp Coffee Carts...

Now that all adjusting entries have been posted to the general ledger, you are asked to prepare the schedule of accounts receivable and the schedule of accounts payable as at June 30, 2012.

The purpose of preparing the schedule of accounts receivable is to verify that the sum of the customer balances recorded in the accounts receivable subsidiary ledger is equal to the balance of the Accounts Receivable control account in the general ledger. Similarly, the purpose of the schedule of accounts payable is to confirm that the sum of the supplier balances recorded in the accounts payable subsidiary ledger is equal to the balance of the Accounts Payable control account in the general ledger.

Instructions for schedules of accounts

Using the subsidiary ledgers and the general ledger:

1)Create a schedule of accounts receivable as at the end of June.

2)Create a schedule of accounts payable as at the end of June.

Remember to enter all answers to the nearest whole dollar.

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Bean Counters Coffeehouse Schedule of Accounts Receivable June 30, 2012 Account No. Name Balance ($) 110-1 ARC - Quick Bolt Coffee 110-2 ARC - Revamp Coffee Carts 110-3 ARC - Jandesh's Hot Spot 110-4 ARC - KavaJava 110-5 ARC - Central Coffee 110-6 ARC - Con's Coffee Total
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Bean Counters Coffeehouse Schedule of Accounts Payable June 30, 2012 Account No. Name Terms Balance ($) 210-1 APC - Croup Coffee 2/10, n/30 210-2 APC - Klam Wholesalers 1/15, n/30 210-3 APC - Dominga Wholesalers net 30 210-4 APC - East Tangiers Co-op. 2/10, n/30 210-5 APC - Abejundio Coffee net 30 210-6 APC - Buena Vista Coffee net 30 SUBSIDIARY LEDGERS POST ADJUSTING Account: ARC - Quick Bolt Coffee Account No. 110-1 Date Descr iption Ref. Debit Credi t Bala nce May 31 Balan ce 1,604 DR Jun 9 Repa ymen t CRJ 1,604 0 Jun 30 Adjusted Balance 0
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