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Consider the recorded transactions below. Transaction Account Name Debit Credit 1. Accounts Receivable 7,600 Service Revenue 7,600 2. Supplies 1,900 Accounts Payable 1,900 3.
Consider the recorded transactions below. Transaction Account Name Debit Credit 1. Accounts Receivable 7,600 Service Revenue 7,600 2. Supplies 1,900 Accounts Payable 1,900 3. Cash 9,400 Accounts Receivable 9,400 4. Advertising Expense 1,100 Cash 1,100 5. Accounts Payable 2,900 Cash 2,900 6. Cash 1,200 Deferred Revenue 1,200 Required: Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions is: Cash, $2,600; Accounts Receivable, $3,400; Supplies, $320; Accounts Payable, $2,700; Deferred Revenue, $220. Service Revenue and Advertising Expense each have a beginning balance of zero. Cash Accounts Receivable Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Ending Balance Supplies Accounts Payable Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Ending Balance Deferred Revenue Service Revenue Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Advertising Expense Debit Credit Beginning Balance Ending Balance Ending Balance
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