The following narratives describe transactions impacting cash, accounts receivable, accounts payable, revenues, and selected expense accounts.Use T-accounts to analyze this activity and determine the ending balances for cash, accounts receivable and accounts payable. Record your answers in Blackboard.

At the beginning of the period, accounts receivable totaled $54,300, while accounts payable totaled $31,275.The company started the period with $85,000 in cash.

Transaction #1 Services were provided to customers for cash in the amount of $15,230. Transaction #2 Supplies were purchased and used.This purchase occurred on account, in the amount of $2,400. Transaction #3 Collections of outstanding receivables occurred in the amount of $19,410. Transaction #4 Utilities costs in the amount of $763 were incurred and paid in cash. Transaction #5 Payments on outstanding accounts payable were made for $23,900. Transaction #6 Services were provided to customers on account in the amount of $48,654.

CASH REVENUES 1/1/X1 85,000 15,230 #1 #1 15,230 19,410 ACCOUNTS RECEIVABLE SUPPLIES EXPENSE 1/1/X1 54,300 48,654 102,954