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Consider the recorded transactions below. Transaction Account Name Debit Credit 1. Accounts Receivable 8,200 Service Revenue 8,200 2. Supplies 2,200 Accounts Payable 2,200 3. Cash
Consider the recorded transactions below.
Transaction | Account Name | Debit | Credit |
---|---|---|---|
1. | Accounts Receivable | 8,200 | |
Service Revenue | 8,200 | ||
2. | Supplies | 2,200 | |
Accounts Payable | 2,200 | ||
3. | Cash | 10,000 | |
Accounts Receivable | 10,000 | ||
4. | Advertising Expense | 1,100 | |
Cash | 1,100 | ||
5. | Accounts Payable | 3,500 | |
Cash | 3,500 | ||
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, $3,200; Accounts Receivable, $4,000; Supplies, $380; Accounts Payable, $3,300; Deferred Revenue, $280. Service Revenue and Advertising Expense each have a beginning balance of zero.
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