Perform the following accounting tasks for the receivables of Freeman and Jones, a law firm, at December 31, 2021 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 follow $35,000 Accounts Receivable $97,000 and Service Revenue, $0 Post the following 2021 transactions to the T accounts a Service revenue of $704,000, all on account b Collections on account, $720,000 What are the ending balances of Cash, Accounts Receivable and Service Revenue (Abbreviations used Beg bal Beginning balance, End bal Ending Uncoll acct exp Uncolloctble Account Expense Enter a 0 for any zero balances ) 1 T accounts have been set up for Cash, Accounts Receivable, and Service Revenue Start with the beginning balances as follows Cash $35,000 Accounts Receivable $97,000 and Service Revenue, $0 Post the following 2021 transactions to the T accounts a Service revenue of $704,000, all on account b Collections on account, $720,000 2 What are the ending balances of Cash, Accounts Receivable and Service Revenue

Question

Perform the following accounting tasks for the receivables of Freeman and Jones, a law firm, at December 31, 2021  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 follow $35,000  Accounts Receivable  $97,000  and Service Revenue,  $0  Post the following 2021 transactions to the T accounts  a  Service revenue of $704,000, all on account b  Collections on account, $720,000 What are the ending balances of Cash, Accounts Receivable and Service Revenue  (Abbreviations used  Beg bal   Beginning balance, End bal   Ending Uncoll acct exp   Uncolloctble Account Expense  Enter a  0  for any zero balances ) 1  T accounts have been set up for Cash, Accounts Receivable, and Service Revenue  Start with the beginning balances as follows  Cash $35,000  Accounts Receivable  $97,000  and Service Revenue,  $0  Post the following 2021 transactions to the T accounts  a  Service revenue of $704,000, all on account b  Collections on account, $720,000 2  What are the ending balances of Cash, Accounts Receivable and Service Revenue

Accepted Answer

The Answer is in the image, click to view ...

Question

Perform the following accounting tasks for the receivables of Freeman and Jones, a law firm, at December 31, 2021. Read the requirements. Requirements 1 and

Step by Step Solution

Step: 1

Get Instant Access to Expert-Tailored Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Recommended Textbook for

Marketing Audit Of A Private Health Care Facility Case Of The Bondeko Clinic

Students also viewed these Accounting questions

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question

Question