On September 1, Cullumber Company has the following accounts and account balances: Cash $21,600, Accounts Receivable $2,480, Supplies $2,360, Accounts Payable $1,240, Unearned Revenue $1,980, Owner's Capital $19,880, Service Revenue $5,080, and Salaries Expense $1,740 During the month of September, the bookkeeper for Cullumber Company prepared the following journal entries: 1. 2. 3. 4. 5. Cash Service Revenue (To record cash received from services performed.) Salaries Expense Cash (Paid salaries to date.) Accounts Payable Cash (Paid creditors on account.) Cash Accounts Receivable (Received cash in payment of account.) Unearned Revenue Service Revenue 1,490 870 250 1,240 1,490 1,490 870 250 1,240 1,490

On September 1, Cullumber Company has the following accounts and account balances: Cash $21,600, Accounts Receivable $2,480, Supplies $2,360, Accounts Payable $1,240, Unearned Revenue $1,980, Owner's Capital $19,880, Service Revenue $5,080, and Salaries Expense $1,740 During the month of September, the bookkeeper for Cullumber Company prepared the following journal entries: 1. 2. 3. 4. 5. Cash Service Revenue (To record cash received from services performed.) Salaries Expense Cash (Paid salaries to date.) Accounts Payable Cash (Paid creditors on account.) Cash Accounts Receivable (Received cash in payment of account.) Unearned Revenue Service Revenue 1,490 870 250 1,240 1,490 1,490 870 250 1,240 1,490

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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