Consider the recorded transactions below. 1. Accounts Receivable Service Revenue 2. Supplies Accounts Payable 3. Cash Accounts Receivable 4. Advertising Expense Cash 5. Accounts Payable Cash 6. Cash Deferred Revenue Debit 8,800 1,600 8,800 1,100 2,300 1,200 Credit 8,800 1,600 8,800 1,100 2,300 1,200 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, $2,000; Accounts Receivable, $2,800; Supplies, $260; Accounts Payable, $2,100; Deferred Revenue, $160. Service Revenue and Advertising Expense each have a beginning balance of zero.

Consider the recorded transactions below. 1. Accounts Receivable Service Revenue 2. Supplies Accounts Payable 3. Cash Accounts Receivable 4. Advertising Expense Cash 5. Accounts Payable Cash 6. Cash Deferred Revenue Debit 8,800 1,600 8,800 1,100 2,300 1,200 Credit 8,800 1,600 8,800 1,100 2,300 1,200 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, $2,000; Accounts Receivable, $2,800; Supplies, $260; Accounts Payable, $2,100; Deferred Revenue, $160. Service Revenue and Advertising Expense each have a beginning balance of zero.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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