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To start his own business, Kevin Davis put $21,900 of his personal cash into the business account. Given the following additional transactions calculate the ending
To start his own business, Kevin Davis put $21,900 of his personal cash into the business account. Given the following additional transactions calculate the ending balance of each of the following accounts after all journal entry amounts are posted: Cash, Deferred Revenue, Service Revenue, Prepaid Rent, and Rent Expense Item Description Ref. Debit Credit 1 Cash 1.615 Cash Deferred Revenue 1,615 Deferred Revenue Deferred Revenue 500 Service Revenue Service Revenue 500 Prepaid Rent Prepaid Rent Rent Expense 3 800 Cash 800 X Rent Expense 4 740 Prepaid Rent 740
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