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Fife & Company, a public corporation offering accounting services to low income clients has the following transactions in their second year of business. Date Description
Fife & Company, a public corporation offering accounting services to low income clients has the following transactions in their second year of business. Date Description Debit Credit Jan 4 Organization Costs 27,000 Common Stock 27,000 Jan 5 Cash 75,000 Common Stock 75,000 Jan 8 Prepaid Rent Cash 3,500 3,500 Jan 12 Office Equipment 5,750 Accounts Payable 4,250 Cash 1,500 Jan 17 Cash 18,000 Accounts Receivable 4,000 Service Revenue 22,000 Jan 25 Supplies 7,000 Accounts Payable 7,000 Post the journal entries to the ledger and show the ending balance in each ledger account
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