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Transaction 2. Account Name Accounts Receivable Service Revenue Supplies Accounts Payable Cash Accounts Receivable. Advertising Expense Cash Accounts Payable Cash Cash Deferred Revenue Debit 9,300 1,350 8,300 1,000 1,500 1,100 Credit 9,300 1,350 8,300 1,000 1,800 1,100 Required: b Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account the transactions is: Cash, $1,500; Accounts Receivable, $2,300; Supplies, $210, Accounts Payable, $1,600, Deferred venue, $110. Service Revenue and Advertising Expense each have a beginning balance of zero.

Transaction 2. Account Name Accounts Receivable Service Revenue Supplies Accounts Payable Cash Accounts Receivable. Advertising Expense Cash Accounts Payable Cash Cash Deferred Revenue Debit 9,300 1,350 8,300 1,000 1,500 1,100 Credit 9,300 1,350 8,300 1,000 1,800 1,100 Required: b Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account the transactions is: Cash, $1,500; Accounts Receivable, $2,300; Supplies, $210, Accounts Payable, $1,600, Deferred venue, $110. Service Revenue and Advertising Expense each have a beginning balance of zero.

FINANCIAL ACCOUNTING
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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Transaction 1. 2. 3. Account Name Accounts Receivable Service Revenue Supplies Beginning Balance Accounts Payable Cash Debit Accounts Receivable Advertising Expense Cash Accounts Payable Cash Cash Deferred Revenue Cash 1,500 8,300 1,000 Credit 8,300 1,000 1,800 Debit < Prev 9,300 1,350 8,300 1,000 1, see Required: Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account the transactions is: Cash, $1,500, Accounts Receivable, $2,300; Supplies, $210, Accounts Payable, $1,600, Deferred evenue, $110. Service Revenue and Advertising Expense each have a beginning balance of zero. b 1,100 2 of 4 Credit 9,300 Jul 1,350 8,300 1,000 1,800 1,100 Debit Beginning Balance Next > Accounts Receivable eck my work Credit
Transcribed Image Text:Transaction 1. 2. 3. Account Name Accounts Receivable Service Revenue Supplies Beginning Balance Accounts Payable Cash Debit Accounts Receivable Advertising Expense Cash Accounts Payable Cash Cash Deferred Revenue Cash 1,500 8,300 1,000 Credit 8,300 1,000 1,800 Debit < Prev 9,300 1,350 8,300 1,000 1, see Required: Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account the transactions is: Cash, $1,500, Accounts Receivable, $2,300; Supplies, $210, Accounts Payable, $1,600, Deferred evenue, $110. Service Revenue and Advertising Expense each have a beginning balance of zero. b 1,100 2 of 4 Credit 9,300 Jul 1,350 8,300 1,000 1,800 1,100 Debit Beginning Balance Next > Accounts Receivable eck my work Credit
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