Selected journal entries for Wang Enterprises are presented in BE2.7. Post the transactions using the standard form of account.

Data from BE2.7

Selected transactions for Wang Enterprises are presented in journal form below. Post the transactions to T-accounts. Make one T-account for each account and determine each account’s ending balance.

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J1 Date Account Titles and Explanation Ref. Debit Credit Accounts Receivable Service Revenue (Billed for services performed) 5,400 May 5 5,400 4,200 12 Cash Accounts Receivable (Received cash in payment of account) 4,200 3,000 15 Cash Service Revenue (Received cash for services performed) 3,000