Transactions and T Accounts The following selected transactions were completed during July of the current year Billed customers for fees earned, $48,910 Purchased supplies on account, $2,100 Received cash from customers on account, $45,980 Paid creditors on account, $1,270 Question Content Area a Journalize these transactions in a two column journal, using the appropriate number to identify the transactions If an amount box does not require an entry, leave it blank (1) Accounts PayableAccounts ReceivableCashFees EarnedFees ExpenseFees Payable Select Select Accounts PayableAccounts ReceivableCashFees EarnedFees ExpenseFees Payable Select Select (2) Accounts PayableAccounts ReceivableCashSuppliesSupplies PayableSupplies Receivable Select Select Accounts PayableAccounts ReceivableCashNotes PayableSuppliesSupplies Receivable Select Select (3) Accounts PayableAccounts ReceivableCashCommon StockFees EarnedFees ExpenseFees Payable Select Select Accounts PayableAccounts ReceivableCashFees EarnedFees ExpenseFees Payable Select Select (4) Accounts PayableAccounts ReceivableCashFees EarnedFees ExpenseFees Payable Select Select Accounts PayableAccounts ReceivableCashCommon StockFees EarnedFees ExpenseFees Payable Select Select Question Content Area b Post the entries prepared in (a) to the following T accounts Cash, Supplies, Accounts Receivable, Accounts Payable, Fees Earned To the left of each amount posted in the accounts, select the appropriate number to identify the transaction Cash (1)(2)(3)(4) fill in the blank f8c5c70a0fb9063 2 (1)(2)(3)(4) fill in the blank f8c5c70a0fb9063 4 Accounts Payable (1)(2)(3)(4) fill in the blank f8c5c70a0fb9063 6 (1)(2)(3)(4) fill in the blank f8c5c70a0fb9063 8 Supplies (1)(2)(3)(4) fill in the blank f8c5c70a0fb9063 10 Fees Earned (1)(2)(3)(4) fill in the blank f8c5c70a0fb9063 12 Accounts Receivable (1)(2)(3)(4) fill in the blank f8c5c70a0fb9063 14 (1)(2)(3)(4) fill in the blank f8c5c70a0fb9063 16 c Assume that the unadjusted trial balance on July 31 shows a credit balance for Accounts Receivable Does this credit balance mean an error has occurred YesNo

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Transactions and T Accounts The following selected transactions were completed during July of the current year: Billed customers for fees earned, $48,910. Purchased supplies on

Transactions and T Accounts

The following selected transactions were completed during July of the current year:

Billed customers for fees earned, $48,910.

Purchased supplies on account, $2,100.

Received cash from customers on account, $45,980.

Paid creditors on account, $1,270.

Question Content Area

a. Journalize these transactions in a two-column journal, using the appropriate number to identify the transactions. If an amount box does not require an entry, leave it blank.

(1)	Accounts PayableAccounts ReceivableCashFees EarnedFees ExpenseFees Payable	- Select -	- Select -
	Accounts PayableAccounts ReceivableCashFees EarnedFees ExpenseFees Payable	- Select -	- Select -
(2)	Accounts PayableAccounts ReceivableCashSuppliesSupplies PayableSupplies Receivable	- Select -	- Select -
	Accounts PayableAccounts ReceivableCashNotes PayableSuppliesSupplies Receivable	- Select -	- Select -
(3)	Accounts PayableAccounts ReceivableCashCommon StockFees EarnedFees ExpenseFees Payable	- Select -	- Select -
	Accounts PayableAccounts ReceivableCashFees EarnedFees ExpenseFees Payable	- Select -	- Select -
(4)	Accounts PayableAccounts ReceivableCashFees EarnedFees ExpenseFees Payable	- Select -	- Select -
	Accounts PayableAccounts ReceivableCashCommon StockFees EarnedFees ExpenseFees Payable	- Select -	- Select -

Question Content Area

b. Post the entries prepared in (a) to the following T accounts: Cash, Supplies, Accounts Receivable, Accounts Payable, Fees Earned. To the left of each amount posted in the accounts, select the appropriate number to identify the transaction.

Cash
(1)(2)(3)(4)	fill in the blank f8c5c70a0fb9063_2	(1)(2)(3)(4)	fill in the blank f8c5c70a0fb9063_4

Accounts Payable
(1)(2)(3)(4)	fill in the blank f8c5c70a0fb9063_6	(1)(2)(3)(4)	fill in the blank f8c5c70a0fb9063_8

Supplies
(1)(2)(3)(4)	fill in the blank f8c5c70a0fb9063_10

Fees Earned
		(1)(2)(3)(4)	fill in the blank f8c5c70a0fb9063_12

Accounts Receivable
(1)(2)(3)(4)	fill in the blank f8c5c70a0fb9063_14	(1)(2)(3)(4)	fill in the blank f8c5c70a0fb9063_16

c. Assume that the unadjusted trial balance on July 31 shows a credit balance for Accounts Receivable. Does this credit balance mean an error has occurred?

YesNo