8. The following narratives describe transactions impacting cash, accounts receivable, accounts payable, revenues, and selected expense accounts. Use T-accounts to analyze this activity and determine the ending balances for accounts receivable and accounts payable. At the beginning of the period, accounts receivable totaled $54,300, while accounts payable totaled $31,275. The company started the period with $85,000 in cash.

Transaction #1 Services were provided to customers for cash in the amount of $15,230.

Transaction #2 Supplies were purchased and used. This purchase occurred on account, in the

amount of $2,400.

Transaction #3 Collections of outstanding receivables occurred in the amount of $19,410.

Transaction #4 Utilities costs in the amount of $763 were incurred and paid in cash.

Transaction #5 Payments on outstanding accounts payable were made for $23,900.

Transaction #6 Services were provided to customers on account in the amount of $48,654

y 100% + = T Text + Collaborate View Zoom Add Category Insert Table Chart Shape Media Comment Format Organize + L Problem Worksheet Worksheet CASH REVENUES 15,230 1/1/X1 85,000 #1 #1 15,230 ACCOUNTS RECEIVABLE SUPPLIES EXPENSE 1/1/X1 54,300 Nothing selected. Select an object to format. UTILITIES EXPENSE ACCOUNTS PAYABLE 31,275 1/1/X1 The T-accounts reveal that ending Accounts Receivable amount to $ Payable amount to $ and ending Accounts