Selected transactions from the journal of June Feldman, investment broker, are presented below. Instructions a. Post the
Question:
Instructions
a. Post the transactions to T-accounts.
b. Prepare a trial balance at August 31, 2020.
Transcribed Image Text:
Debit Credit Date Account Titles and Explanation Ref. Aug. 1 Cash 5,000 Owner's Capital (Owner's investment of cash in business) 5,000 10 Cash 2,600 Service Revenue 2,600 (Received cash for services performed) 12 5,000 Equipment Cash 2,300 Notes Payable (Purchased equipment for cash and notes payable) 2,700 25 Accounts Receivable 1,700 1,700 Service Revenue (Billed clients for services performed) 31 Cash 900 Accounts Receivable 900 (Receipt of cash on account)
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a Cash Aug 1 5000 Aug 12 2300 10 2600 31 900 Bal 6200 Accounts Receivable Aug 25 ...View the full answer
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Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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