Question
Journalizing and Posting Transactions Instructions: For each transaction below, journalize the entry and then post it to the appropriate T-accounts. You must have a
Journalizing and Posting Transactions Instructions: For each transaction below, journalize the entry and then post it to the appropriate T-accounts. You must have a debit and credit in the journal entry and when posting to the T-Accounts. Use the following accounts: Cash Accounts Receivable . Supplies Inventory Equipment Accounts Payable Service Revenue Rent Expense Transactions: 1. ABC Funeral Home received $5,000 in cash from clients for funeral services provided. 2. Purchased embalming supplies on credit for $1,500. 3. Provided funeral services to a client on credit for $3,000. 4. Paid $800 in rent for the funeral home location. 5. Received $2,000 in cash from pre-arranged funeral services.
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