Posting to an Accounts Receivable Ledger LESSON 11-2 Posting to an Accounts Receivable Ledger Original created by M.C. McLaughlin, Thomson/South-Western Modified by Deborah L. Burns, Johnston County Schools, West Johnston High School

ACCOUNTS RECEIVABLE LEDGER AND GENERAL LEDGER CONTROLLING ACCOUNT LESSON 11-2 5/19/2018 ACCOUNTS RECEIVABLE LEDGER AND GENERAL LEDGER CONTROLLING ACCOUNT page 307 When the balance of a customer account in an accounts receivable ledger is changed, the balance of the controlling account, Accounts Receivable, is also changed The total of all customer account balances in the accounts receivable ledger equals the balance of the controlling account Accounts Receivable LESSON 11-2

ACCOUNTS RECEIVABLE LEDGER FORMS page 308 1 Customer name 2 Customer number Opening customer accounts consists of writing the customer name and customer number on the heading of the ledger account LESSON 11-2

POSTING FROM A SALES JOURNAL TO AN ACCOUNTS RECEIVABLE LEDGER page 309 Each amount in a sales journal’s Accounts Receivable column is posted to the accounts receivable ledger At the end of the month, the journal’s Accounts Receivable Debit column total is posted to the controlling account, Accounts Receivable 2 5 1 3 4 1. Write the date. 4. Add the amount in the Debit column to the previous balance in the Debit Balance column. Write the new account balance. 2. Write the sales journal page number. 3. Write the debit amount. 5. Write the customer number. LESSON 11-2

POSTING FROM A CASH RECEIPTS JOURNAL TO AN ACCOUNTS RECEIVABLE LEDGER page 310 2 1 5 3 1. Write the date. 2. Write the cash receipts journal page number. 3. Write the credit amount. 4 4. Subtract the amount in the Credit column from the previous balance in the Debit Balance column. Write the new balance. 5. Write the customer number. LESSON 11-2

POSTING A CREDIT ENTRY FROM A GENERAL JOURNAL TO AN ACCOUNTS RECEIVABLE LEDGER page 311 2 1. Write the date. 2. Write the general journal page number. 1 3. Write the amount. 5 3 4. Subtract the amount in the Credit column from the previous balance in the Debit Balance column. Write the new balance. 4 5. Write the customer number. LESSON 11-2

COMPLETED ACCOUNTS RECEIVABLE LEDGER page 312 The total of all customer account balances in the accounts receivable ledger equals the balance of the controlling account Accounts Receivable LESSON 11-2

PROVING THE ACCOUNTS RECEIVABLE LEDGER page 313 A listing of customer accounts, account balances, and total amount due from all customers is called a schedule of accounts receivable A schedule of accounts receivable is prepared after all entries in a journal are posted LESSON 11-2

TERM REVIEW page 314 schedule of accounts receivable LESSON 11-2