FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Consider the recorded transactions below.
                                                                    Debit           Credit
1. Accounts Receivable..................................... 8,400
                               Service Revenue....................................... 8,400
2. Supplies......................................................... 2,300
                              Accounts Payable .................................... 2,300
3. Cash............................................................. 10,200
                           Accounts Receivable................................ 10,200
4. Advertising Expense...................................... 1,000
                              Cash.............................................................. 1,000
5. Accounts Payable........................................... 3,700
                              Cash.............................................................. 3,700
6. Cash............................................................... 1,100
                             Deferred Revenue.................................... 1,100

Required:
Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions is: Cash, $3,400; Accounts Receivable, $4,200; Supplies, $400; Accounts Payable, $3,500; Deferred Revenue, $300. Service Revenue and Advertising Expense each have a beginning balance of zero.

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