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Perform the following accounting tasks for the receivables of Able and Bowman, a law firm, at December 31, 2018. Read the requirements Requirements 1 and
Perform the following accounting tasks for the receivables of Able and Bowman, a law firm, at December 31, 2018. Read the requirements Requirements 1 and 2. T-accounts have been set up for Cash, Accounts Receivable, and Service Revenue. Start with the beginning balances as follows: Cash $28,000; Accounts Receivable $103,000; and Service Revenue, $0. Post the following 2018 transactions to the T-accounts: a. Service revenue of $705,000, all on account b. Collections on account, $713,000 What are the ending balances of Cash, Accounts Receivable and Service Revenue? (Abbreviations used: Beg bal - Beginning balance, End bal Ending balance, Uncoll acct exp Uncollectible Account Expense. Enter a "O" for any zero balances.) Cash Accounts Receivable Service Revenue
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