Work together 2-3Analyzing revenue, expense, and withdrawal transactions into debit and credit partsT accounts are given in the Working Papers. Your instructor will guide you through the following examples. Use the chart of accounts for Jensen Cleaning Service in Work Together 2-2.Transactions:Mar. 11. Sold services on account to Johannes Erickson, $125.00.13. Received cash from sales, $260.00.14. Paid cash for telephone bill, $54.00.16. Received cash on account from Johannes Erickson, $125.00.19. Paid cash to owner for a withdrawal of equity, $200.00.1. Prepare two T accounts for each transaction. On each T account, write the account title of one of the accounts affected by the transaction.2. Write the debit or credit amount in each T account to show the transaction’s effect.
Work together 2-3
Analyzing revenue, expense, and withdrawal transactions into debit and credit parts
T accounts are given in the Working Papers. Your instructor will guide you through the following examples. Use the chart of accounts for Jensen Cleaning Service in Work Together 2-2.
Transactions:
Mar. 11. Sold services on account to Johannes Erickson, $125.00.
13. Received cash from sales, $260.00.
14. Paid cash for telephone bill, $54.00.
16. Received cash on account from Johannes Erickson, $125.00.
19. Paid cash to owner for a withdrawal of equity, $200.00.
1. Prepare two T accounts for each transaction. On each T account, write the account title of one of the accounts affected by the transaction.
2. Write the debit or credit amount in each T account to show the transaction’s effect.
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