The accounts and transactions of Zachary Morrow, Counselor and Attorney at Law, are reflected below.

INSTRUCTIONS

Analyze the transactions. Record each transaction on the appropriate side of the T accounts. Identify each entry in the T accounts by writing the letter of the transaction next to the entry.

Analyze:

What outstanding amount is owed to the company from its credit customers?

Transcribed Image Text:

ASSETS Cash Accounts Receivable Furniture Equipment Automobile LIABILITIES Accounts Payable OWNER'S EQUITY Zachary Morrow, Capital Zachary Morrow, Drawing REVENUE Fees Income EXPENSES Automobile Expense Rent Expense Utilities Expense Salaries Expense Telephone Expense