Consider the recorded transactions below. Transaction Account Name Debit Credit 1. Accounts Receivable 8,500 Service Revenue...
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Consider the recorded transactions below. Transaction Account Name Debit Credit 1. Accounts Receivable 8,500 Service Revenue 8,500 2. Supplies 1,750 Accounts Payable 1,750 3. Cash 9,100 Accounts Receivable 9,100 4. Advertising Expense 1,100 Cash 1,100 5. Accounts Payable 2,600 6. Cash Cash 2,600 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, $2,300; Accounts Receivable, $3,100; Supplies, $290; Accounts Payable, $2,400; Deferred Revenue, $190. Service Revenue and Advertising Expense each have a beginning balance of zero. Cash Debit Beginning Balance (1) Ending Balance Accounts Receivable Credit Debit Credit 2,300 Beginning Balance 9,100 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 Consider the recorded transactions below. Transaction Account Name Debit Credit 1. Accounts Receivable 8,500 Service Revenue 8,500 2. Supplies 1,750 Accounts Payable 1,750 3. Cash 9,100 Accounts Receivable 9,100 4. Advertising Expense 1,100 Cash 1,100 5. Accounts Payable 2,600 6. Cash Cash 2,600 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, $2,300; Accounts Receivable, $3,100; Supplies, $290; Accounts Payable, $2,400; Deferred Revenue, $190. Service Revenue and Advertising Expense each have a beginning balance of zero. Cash Debit Beginning Balance (1) Ending Balance Accounts Receivable Credit Debit Credit 2,300 Beginning Balance 9,100 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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Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
Posted Date:
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