Selected transactions from the journal of June Feldman, investment broker, are presented below. Date Account Titles and Explanation Ref. Debit Credit Aug.1 Cash 7,100 Owner's Capital 7,100 (Owner's investment of cash in business) 10 Cash 3,692 Service Revenue 3,692 (Received cash for services performed) 12 Equipment 7,100 Cash 3,266 Notes Payable 3,834 (Purchased equipment for cash and notes payable) 25 Accounts Receivable 2,414 Service Revenue 2,414 (Billed clients for services performed) 31 Cash 1,278 Accounts Receivable 1,278 (Receipt of cash on account)
Selected transactions from the journal of June Feldman, investment broker, are presented below. Date Account Titles and Explanation Ref. Debit Credit Aug.1 Cash 7,100 Owner's Capital 7,100 (Owner's investment of cash in business) 10 Cash 3,692 Service Revenue 3,692 (Received cash for services performed) 12 Equipment 7,100 Cash 3,266 Notes Payable 3,834 (Purchased equipment for cash and notes payable) 25 Accounts Receivable 2,414 Service Revenue 2,414 (Billed clients for services performed) 31 Cash 1,278 Accounts Receivable 1,278 (Receipt of cash on account)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Post the transactions to T-accounts. (Post entries in the order presented in the problem
statement.)
Cash
Accounts Receivable
Equipment
Notes Payable
Owner's Capital
Service Revenue
Transcribed Image Text:Selected transactions from the journal of June Feldman, investment broker, are presented
below.
Date
Account Titles and Explanation
Ref.
Debit
Credit
Aug.1
Cash
7,100
Owner's Capital
7,100
(Owner's investment of cash in business)
10
Cash
3,692
Service Revenue
3,692
(Received cash for services performed)
12
Equipment
7,100
Cash
3,266
Notes Payable
3,834
(Purchased equipment for cash and notes
payable)
25
Accounts Receivable
2,414
Service Revenue
2,414
(Billed clients for services performed)
31
Cash
1,278
Accounts Receivable
1,278
(Receipt of cash on account)
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