Ben's

Computer Servicing, Inc., a service company that provides installation services for computer programs, had a service revenue transaction in the amount of

$250,000

on May 31,

2022,

with one customer. This customer chose to put the balance owed on its credit account with

Ben's,

and paid off the balance owed of

$250,000

in full on June 23,

2022.

Ben's

made the following journal entries to record these transactions:

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(Click the icon to view the journal entries.)

Show the t-accounts for the cash, accounts receivable, and service revenue accounts reflecting the revenue transaction in May and the payment in June, assuming no other transactions have taken place.

Question content area bottom

Part 1

Use the dates as posting references to post each transaction to the relevant accounts, then compute the ending balance of each account. Label the ending balances with End.

Bal.

(For accounts with a $0 balance, select

"End.

Bal."

and enter "0" on the normal balance side of the t-account.)

Cash					Accounts Receivable
					5/31/22	250,000
					End. Bal.		250,000
Service Revenue
		250,000	5/31/22
		250000	End. Bal.

Ben's

Computer Servicing, Inc., a service company that provides installation services for computer programs, had a service revenue transaction in the amount of

$250,000

on May 31,

2022,

with one customer. This customer chose to put the balance owed on its credit account with

Ben's,

and paid off the balance owed of

$250,000

in full on June 23,

2022.

Ben's

made the following journal entries to record these transactions:

LOADING...

(Click the icon to view the journal entries.)

Show the t-accounts for the cash, accounts receivable, and service revenue accounts reflecting the revenue transaction in May and the payment in June, assuming no other transactions have taken place.

Question content area bottom

Part 1

Use the dates as posting references to post each transaction to the relevant accounts, then compute the ending balance of each account. Label the ending balances with End.

Bal.

(For accounts with a $0 balance, select

"End.

Bal."

and enter "0" on the normal balance side of the t-account.)

Cash					Accounts Receivable
					5/31/22	250,000
					End. Bal.		250,000
Service Revenue
		250,000	5/31/22
		250000	End. Bal.