Enter the transactions into the T-accounts and then into the four-column ledgers. Be sure to calculate the balance after each entry in the four-column ledgers. On Dec. 5, earned $6,000 on account. Accounts Receivable Accounts Receivable Date Explanation Ref Debit Credit Balance Service Revenue Service Revenue Date Explanation Ref Debit Credit Balance On Dec. 15, owner contributed $9,000 in furniture in exchange for common stock. Furniture Furniture Date Explanation Ref Debit Credit Balance Common Stock Common Stock Date Explanation Ref Debit Credit Balance Post the transaction to the four-column ledger account and cross-reference the posting back to the journal entry. Journal Page 1 Date Accounts and Explanation. Post. Ref. Debit Credit 2016 Nov. 1 Accounts Payable 50,000 Cash 50,000 Paid on account Accounts Payable Account No. 201 Balance Credit Date Item Post. Ref. Debit Credit Debit 2016 Cash Account No. 101 Balance Date Item Post. Ref. Debit Credit Debit Credit 2016 3 After journalizing entries, information can be entered into T-Accounts and/or the four-column ledger. Enter the information from the T-Account and calculate the running balance in the appropriate place in the four-column ledger to review the similarities between the two formats. Be sure to enter the transactions in chronological order. Cash Cash Account No. 101 Balance Debit Credit Nov. 1 40,300 7,800 Nov. 2 Date Item Post. Ref Debit Credit Nov. 8 17,200 4,600 Nov. 13 2016 Nov. 22 28,600 5,000 Nov. 21 JI Dec. 21 14,900 10,100 Nov. 25 Dec. 28 13.700 4.300 Dec, 1 1,900 Dec. 5,400 Dec. 15 75,600 J1 JI J1 J1 J1