ACCOUTRES Soumar counts Final vuestion Instructions The following selected transactions were completed during August of the current year Transactions Aug 1 Billed customers for fees earned, $74,050. 4 Purchased supplies on account, $1,970. 8 Received cash from customers on account. $62,770. 11 Paid creditors on account. $800. Required: A. Journalize these transactions in a two-column journal. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically Transactions and T accounts Instructions Chart of Accounts Journal T Accounts Final Question Instructions 8 Received cash from customers on account, $62,770. 11 Paid creditors on account, $800. Required: A. Journalize these transactions in a two-column joumal. Refer to the chart of accounts for the exact wording of the account titles CNOW joumals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. B. Post the entries prepared in (A) to the following T accounts: Cash, Supplies, Accounts Receivable, Accounts Payable, Fees Earned. To the left of each amount posted in the accounts, select the appropriate date C. Assume that the unadjusted trial balance on August 31 shows a credit balance for Accounts Receivable. Does this credit balance mean that an error has occurred