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How do you open t-accounts for accounts listed in this trial balance? Debit Credit Cash 8,176 Accounts Receivable 14,789 Supplies 12,363 Prepaid Rent 1,173 Equipment
How do you open t-accounts for accounts listed in this trial balance?
Debit | Credit | |
Cash | 8,176 | |
Accounts Receivable | 14,789 | |
Supplies | 12,363 | |
Prepaid Rent | 1,173 | |
Equipment | 20,230 | |
Accounts Payable | 14,307 | |
Common Stock | 31,737 | |
Retained Earnings | 10,687 | |
56,731 | 56,731 |
Summarized transactions for January 2014 were as follows.
1 | Advertising costs, paid in cash, $1,037. |
2 | Additional supplies acquired on account $3,494. |
3 | Miscellaneous expenses, paid in cash, $1,717. |
4 | Cash collected from customers in payment of accounts receivable $12,435. |
5 | Cash paid to creditors for accounts payable due $12,847. |
6 | Repair services performed during January: for cash $6,224; on account $9,159. |
7 | Wages for January, paid in cash, $2,372. |
8 | Dividends during January were $2,666. |
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