A company engaged in the following transactions:
Dec. 1 Performed services for cash, $1,500.
1 Paid expenses in cash, $1,100.
2 Performed services on credit, $1,800.
3 Collected on account, $1,200.
4 Incurred expenses on credit, $1,300.
5 Paid on account, $700.
Enter the correct titles on the following T accounts and enter the above transactions in the accounts. Determine the cash balance after these transactions, the amount still to be received, and the amount still to bepaid.

Transcribed Image Text:

Cash Sale Cash Purchase Credit Purchase Credit Sale Collection on Account Payment on Account