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To start his own business, Tom Watson put $28,000 of his personal cash into the business account. Given the following additional transactions calculate the
To start his own business, Tom Watson put $28,000 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, Accounts Receivable, Service Revenue, Wages Expense, and Wages Payable Item Description Accounts Receivable Ref. Debit Credit 1,600 Cash Service Revenue 1,600 Accounts Receivable 2 Cash 1,500 Service Revenue. Accounts Receivable 1,500 Wages Expense 3 Wages Expense 870 Wages Payable Wages Payable 870 4 Wages Payable 570 Cash 570
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