The opening balances of each account (that were determined after recording the January merchandising transactions) have...
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The opening balances of each account (that were determined after recording the January merchandising transactions) have been entered for you. Post the January non merchandising transactions you recorded above using the dates as posting references Compute each account balance, and denote the balance as Bal (For any transactions that occurred on the same date that affect the same account, post to the account in the same order as you prepared the journal entries above For any accounts with a zero balance after posting the January non-merchandising transactions, select a "Bal." reference and enter a "0" on the normal side of the T-account) Review the journal entries you prepared above Cash Bal 20.095 Accounts Payable Sales Revenue 2360 Bal 5,782 Bal Bal Accounts Receivable 7,000 Utilities Payable Canoe Rental Revenue 240 Bal 0 Bal Bal Merchandise Inventory 947 Telephone Payable 350 Bal Bal Cost of Goods Sold 2,010 Estimated Returns Inventory Wages Payable. Bal 1,000 Bal Bal Rent Expense 0 Office Supplies Refunds Payable Wages Expense Bal 150 0 Bal Bal 0 The opening balances of each account (that were determined after recording the January merchandising transactions) have been entered for you. Post the January non merchandising transactions you recorded above using the dates as posting references Compute each account balance, and denote the balance as Bal (For any transactions that occurred on the same date that affect the same account, post to the account in the same order as you prepared the journal entries above For any accounts with a zero balance after posting the January non-merchandising transactions, select a "Bal." reference and enter a "0" on the normal side of the T-account) Review the journal entries you prepared above Cash Bal 20.095 Accounts Payable Sales Revenue 2360 Bal 5,782 Bal Bal Accounts Receivable 7,000 Utilities Payable Canoe Rental Revenue 240 Bal 0 Bal Bal Merchandise Inventory 947 Telephone Payable 350 Bal Bal Cost of Goods Sold 2,010 Estimated Returns Inventory Wages Payable. Bal 1,000 Bal Bal Rent Expense 0 Office Supplies Refunds Payable Wages Expense Bal 150 0 Bal Bal 0
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