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Perform the following accounting for the receivable of Garvey and Pullman, a law firm, at December 31, 2016. Requirements 1 and 2 Start with the
Perform the following accounting for the receivable of Garvey and Pullman, a law firm, at December 31, 2016. Requirements 1 and 2 Start with the beginning balances for these 1-accounts Cash exist35,000. Accounts Receivable exist101,000. Service Revenue, exist0. Post the following 2016 transactions to the 1-accounts a. Service revenue of exist702,000 all on account b. Collection on account exist710,000 What are the ending balances of Cash, Accounts Receivable and Service Revenue? Prepare the T-accounts for Cash, Accounts Receivable and Service Revenue. Start with the beginning balances for these T-accounts Cash, exist35,000 Accounts Receivable, exist101,000 Service Revenue, exist0 Post the following 2016 transactions to the T-accounts a. Service revenue of exist702,000, all on account b. Collections on account, exist710,000 What are the ending balances of Cash. Accounts Receivable and Service Revenue
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