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Selected transactions from the journal of June Sheffield, investment broker, are presented as follows. Date Account Titles and Explanation Aug.1 Cash Owner's Capital (Owner's
Selected transactions from the journal of June Sheffield, investment broker, are presented as follows. Date Account Titles and Explanation Aug.1 Cash Owner's Capital (Owner's investment of cash in business) 10 Cash Service Revenue Ref. Debit Credit 6,900 6,900 3,588 3,588 (Received cash for services performed) 12 12 Equipment 6,900 Cash 3,174 Notes Payable (Purchased equipment for cash and notes payable) 3,726 25 Accounts Receivable Service Revenue 2,346 2,346 (Billed clients for services performed) 31 Cash 1,242 Accounts Receivable (Receipt of cash on account) 1,242 Post the transactions to T-accounts. (Post entries in the order presented in the problem statement.) Cash Accounts Receivable Equipment Notes Payable Owner's Capital Service Revenue
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