Wildhorse Ltd. had the following selected opening account balances at the end of April 30: Cash $1,500; Accounts Receivable $2,1 and Accounts Payable $800. Transactions during the month of May are presented in journal entry form below. Date May 4 7 11 21 25 28 30 GENERAL JOURNAL Account Titles Accounts Receivable Service Revenue Dividends Declared Cash Cash Accounts Receivable Cash Service Revenue Salaries Expense Cash Accounts Payable Cash Income Tax Expense Cash Debit Credit 3,000 700 1,600 2,100 2,900 200 650 3.000 700 1,600 2,100 2,900 200 650

Wildhorse Ltd. had the following selected opening account balances at the end of April 30: Cash $1,500; Accounts Receivable $2,1 and Accounts Payable $800. Transactions during the month of May are presented in journal entry form below. Date May 4 7 11 21 25 28 30 GENERAL JOURNAL Account Titles Accounts Receivable Service Revenue Dividends Declared Cash Cash Accounts Receivable Cash Service Revenue Salaries Expense Cash Accounts Payable Cash Income Tax Expense Cash Debit Credit 3,000 700 1,600 2,100 2,900 200 650 3.000 700 1,600 2,100 2,900 200 650

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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