Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Create T account Journal entries and trial balance September 1, Crane Company has the following accounts and account balances: h $21,200, Accounts Receivable $2,440, Supplies

Create T account Journal entries and trial balance

image text in transcribed
September 1, Crane Company has the following accounts and account balances: h $21,200, Accounts Receivable $2,440, Supplies $2,320, Accounts Payable $1,220, Unearned Revenue $1,950, Owner's Capital $19,500, Service Revenue $5,000, and Salaries Expense $1,710 ing the month of September, the bookkeeper for Crane Company created the following journal entries: Cash 1,460 Service Revenue 1,460 (To record cash received from services performed. ) Salaries Expense 850 Cash 850 (Paid salaries to date.) Accounts Payable 240 Cash 240 (Paid creditors on account.) Cash 1,220- Accounts Receivable 1,220 (Received cash in payment of account.) Unearned Revenue 1,460 Service Revenue 1,460 ( Provided services.) Supplies 1,220 Accounts Payable 1,220 (To record supplies purchased on account.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Accounting Principles

Authors: John Wild, Ken Shaw, Barbara Chiappetta

19th Edition

0077303202, 9780077303204

More Books

Students also viewed these Accounting questions

Question

Why are comparative financial statements important?

Answered: 1 week ago

Question

13. Give four examples of psychological Maginot lines.

Answered: 1 week ago