Prepare ledger account forms like the ones in Exhibit 2-5 for the following accounts: Cash (111), Accounts
Question:
Prepare ledger account forms like the ones in Exhibit 2-5 for the following accounts: Cash (111), Accounts Receivable (113), and Service Revenue (411). Post the transactions that are recorded in SE 9 to the ledger accounts, at the same time making the proper posting references. Also prepare a trial balance.
Data from SE 9
For each transaction that follows, indicate which account is debited and which account is credited.
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Cash Account No 111 Post Balance Date Item Ref Debi...View the full answer
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Related Book For 
Financial and Managerial Accounting
ISBN: 978-1439037805
9th edition
Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson
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