Your company began operations on the first day of the current month. Journal entries for the first month follow: Cash Common stock Account Land Equipment Accounts payable Cash Accounts receivable Service revenue Cash Accounts receivable Supplies Cash Cash Unearned fees Dividends Cash Salaries expense Cash Rent expense Cash Utilities expense Cash Cash Rent revenue Debit 150,000 95,000 55,000 210,000 120,000 15,000 20,000 15,000 120,000 30,000 10,000 35,000 Credit 150,000 25,000 125,000 210,000 Required: 1) Post the transactions to the T-accounts. 2) Prepare the trial balance. 120,000 15,000 20,000 15,000 120,000 30,000 10,000 35,000 W

The Morning Jolt Coffee Company has projected the following quarterly sales amounts for the coming year: QI $ 210 Sales 02 $ 270 Beginning receivables Sales Cash collections Ending receivables Q3 $ 330 a. Accounts receivable at the beginning of the year are $480. The company has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Beginning receivables Sales Cash collections Ending receivables Q1 210 Q1 04 $480 210 Q2 Q2 270 b. Accounts receivable at the beginning of the year are $480. The company has a 60-day collection period. Calculate cash collections in each of the four quarters by completing the following: Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. 270 Q3 Q3 330 330 Drair Q4 Q4 480 480 21.10 H

Subject:- accounting