ACC$106$ Lab #$3$ Ch# $2$

Question $2$ of $3$

On September $1,$ Sheridan Company has the following accounts and account balances:

Cash $$19,100,$ Accounts Receivable $$2,200,$ Supplies $$2,090,$ Accounts Payable $$1,100,$ Unearned Revenue $$1,760,$ Owner's Capital $$17,560,$ Service Revenue $$4,510,$ and Salaries Expense $$1,540$

During the month of September, the bookkeeper for Sheridan Company prepared the following journal entries:

Cash

$1,320$

Service Revenue

$1,320$

$($To record cash received from services performed.$)$

Salaries Expense

$770$

Cash

$770$

$($Paid salaries to date.$)$

Accounts Payable

$220$

Cash

$220$

$($Paid creditors on account.$)$