Unit 7 Accounting Lab
Recording Entries and Subsidiary Accounts
The general ledger account that summarizes subsidiary ledger data is called a control account. In these Questions and Exercises, you want to assure that the balance in this account is accurate.
Brief Exercise 7–4
Brief Exercise 7–5
Brief Exercise 7–6
Brief Exercise 7–8
Exercise 7–1
Exercise 7–4
Problem 7–1
The following Questions and Exercises will provide you an opportunity to put all of your knowledge of recording entries and subsidiary accounts to practice. First you will journalize the transactions in a six-column cash receipts journal with columns for Cash Dr., Sales Discounts Dr., Accounts Receivable Cr., Sales Revenue Cr., Other Accounts Cr., and Cost of Goods Sold Dr./Inventory Cr. Foot and crossfoot the journal
