The following narratives describe transactions impacting cash, accounts receivable, accounts payable, revenues, and selected expense accounts. Use T-accounts to analyze this activity and determine the ending balances for accounts receivable and accounts payable. At the beginning of the period, accounts receivable totaled \($54\),300, while accounts payable totaled \($31\),275. The company started the period with \($85\),000 in cash.

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Transaction #1 Transaction #2 Services were provided to customers for cash in the amount of $15,230. Transaction #3 Transaction #4 Transaction #5 Transaction #6 Supplies were purchased and used. This purchase occurred on account, in the amount of $2,400. Collections of outstanding receivables occurred in the amount of $19,410. Utilities costs in the amount of $763 were incurred and paid in cash. Payments on outstanding accounts payable were made for $23,900. Services were provided to customers on account in the amount of $48,654.