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13 April, 04:41

Markus Company maintains a separate accounts receivable account for each customer. On June 18, Markus sells $6,400 services on account to customer Anthony and $1,000 services on account to customer Walker. How will these two transactions affect the control and subsidiary accounts?

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  1. 13 April, 05:27
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    The control account, account receivable will be increased with a debit of $7400.

    Explanation:

    The selling of goods worth $6400 or services worth $1000, both of then increases the balance of accounts receivable which in turn increases the subsidiary accounts by $6400 + $1000 = $7400.

    The control account contains the subsidiary ledgers, this means that its balance would also be increased by $7400.

    Therefore, The control account, account receivable will be increased with a debit of $7400.
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Home » Business » Markus Company maintains a separate accounts receivable account for each customer. On June 18, Markus sells $6,400 services on account to customer Anthony and $1,000 services on account to customer Walker.
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