DeQuan Matthews of Sports to Go recorded the following transactions in a general journal during the month
Question:
DeQuan Matthews of Sports to Go recorded the following transactions in a general journal during the month of May.
Post these entries to the Cash account of the general ledger (three-column format) to determine its ending balance. The beginning balance of Cash on May 1 was $10,000. Explanations are not required.
General Journal J1 Account Titles and Explanation Ref. Debit Credit Date Cash May 5 2,500 Service Revenue 2,500 (Performed service for cash) Accounts Payable 16 450 Cash 450 (Payment of accounts payable) 18 Utilities Expense 100 Cash 100 (Paid utilities)
Step by Step Answer:
Cash Date Explanation Ref ...View the full answer
College Accounting
ISBN: 1986
1st Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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