Prepare a trial balance T August 31, 2020 Trial BalanceDebit$Totals$ Selected transactions from the journal of June Feldman, investment broker, are presentedbelow.DateAccount Titles and ExplanationRef.DebitCreditAug.1Cash7,100Owner's Capital7,100(Owner's investment of cash in business)10Cash3,692Service Revenue3,692(Received cash for services performed)12Equipment7,100Cash3,266Notes Payable3,834(Purchased equipment for cash and notespayable)25Accounts Receivable2,414Service Revenue2,414(Billed clients for services performed)31Cash1,278Accounts Receivable1,278(Receipt of cash on account)

Cash = 7100 + 3692 -3266 + 1278 = 8804 Accounts receivable = 2414 - 1278 = 1136 Service revenue =…

Answered: Selected transactions from the journal…

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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View Policies Current Attempt in Progress Windsor Industries borrows $18800 at 8% annual interest for six months on October 1, 2022. Which is the appropriate entry to accrue interest if Windsor employs a December 31, 2022, fıscal year? O Dr Interest Expense $1504 Cr Interest Payable $1504 O Dr Interest Expense $376 Cr Interest Payable $376 O Dr Interest Expense $376 Cr Notes Payable $376 O Dr Notes Payable $1504 Cr Interest Payable $1504 Save for Later Attempts: 0 of 1 used Submit Answer
On September 1, 2020, Amazon sells 2,000 Amazon Prime annual subscriptions to 500 customers receiving $120 from its customers for each subscription. Required Task Prepare the appropriate journal entries that Amazon would record on January 1, 2020 and September 30, 2020 related to its subscription sales
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