On November 10, JumpStart provides $2,170 in services to clients. At the time of service, the clients paid $650 in cash and put the balance on account.Required:(a)Journalize this event.*(b)On November 20, JumpStart’s clients paid an additional $560 on their accounts due. Journalize this event.*(c)Calculate the accounts receivable balance on November 30. *Refer to the Chart of Accounts for exact wording of account titles.CHART OF ACCOUNTSJumpStartGeneral Ledger ASSETS11Cash12Accounts Receivable13Office Supplies14Prepaid Insurance15Land16Office Equipment17Building18Truck LIABILITIES21Notes Payable22Accounts Payable23Unearned Revenue EQUITY31JumpStart, Capital32JumpStart, Drawing REVENUE41Fees Earned EXPENSES51Wages Expense53Rent Expense54Utilities Expense55Maintenance Expense59Miscellaneous Expense(a) On November 10, JumpStart provides $2,170 in services to clients. At the time of service, the clients paid $650 in cash and put the balance on account. Journalize this event. Refer to the Chart of Accounts for exact wording of account titles.(b) On November 20, JumpStart’s clients paid an additional $560 on their accounts due. Journalize this event. Refer to the Chart of Accounts for exact wording of account titles.c. Calculate the accounts receivable balance on November 30.

Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Answered: On November 10, JumpStart provides…

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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Question

On November 10, JumpStart provides $2,170 in services to clients. At the time of service, the clients paid $650 in cash and put the balance on account.

Required:

(a)	Journalize this event.*
(b)	On November 20, JumpStart’s clients paid an additional $560 on their accounts due. Journalize this event.*
(c)	Calculate the accounts receivable balance on November 30.
	*Refer to the Chart of Accounts for exact wording of account titles.

CHART OF ACCOUNTSJumpStartGeneral Ledger

	ASSETS
11	Cash
12	Accounts Receivable
13	Office Supplies
14	Prepaid Insurance
15	Land
16	Office Equipment
17	Building
18	Truck

	LIABILITIES
21	Notes Payable
22	Accounts Payable
23	Unearned Revenue

	EQUITY
31	JumpStart, Capital
32	JumpStart, Drawing

	REVENUE
41	Fees Earned

	EXPENSES
51	Wages Expense
53	Rent Expense
54	Utilities Expense
55	Maintenance Expense
59	Miscellaneous Expense

(a) On November 10, JumpStart provides $2,170 in services to clients. At the time of service, the clients paid $650 in cash and put the balance on account. Journalize this event. Refer to the Chart of Accounts for exact wording of account titles.

(b) On November 20, JumpStart’s clients paid an additional $560 on their accounts due. Journalize this event. Refer to the Chart of Accounts for exact wording of account titles.

c. Calculate the accounts receivable balance on November 30.

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