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The following transactions occur for the Wolfpack Shoe Company during the month of June: a. Provide services to customers for $30,000 and receive cash. b.
The following transactions occur for the Wolfpack Shoe Company during the month of June: a. Provide services to customers for $30,000 and receive cash. b. Purchase office supplies on account for $20,000. c. Pay $7,000 in salaries to employees for work performed during the month. 3. Post the transactions to T-accounts. Assume the opening balance in each of the accounts is zero. Beginning Balance Answer is not complete. Cash Service Revenue Debit Credit Debit Credit Beginning Balance (a) 30,000 7,000 Ending Balance 23,000 Beginning 30,000 Ending Balance 30,000 Supplies Accounts Payable Debit Credit Debit Credit Beginning Balance Balance (b) 20,000 Ending Balance 20,000 Beginning Balance Salaries Expense Debit Credit (c) 7,000 Ending Balance 7,000 20,000 Ending Balance 20,000
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