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To start his own business, Sam Watson put $28,500 of his personal cash into the business account. Given the following additional transactions calculate the ending

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To start his own business, Sam Watson put $28,500 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 Bent. Expense Item Ref. Description Cash Credit Debit 1,540 1 Deferred Revenue 1,540 2 970 Deferred Revenue Service Revenue Cash Deferred Revenue Service Revenue Prepaid Rent Rent Expense 970 0 3 1.050 Prepaid Rent Cash 1,050 4 500 Rent Expense Prepaid Rent 500

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