Question

The following selected transactions were completed during January of the current year:
1. Billed customers for fees earned, $41,730.
2. Purchased supplies on account, $1,800.
3. Received cash from customers on account, $39,150.
4. Paid creditors on account, $1,100.
a. Journalize the above transactions in a two-column journal, using the appropriate number to identify the transactions.
b. Post the entries prepared in (a) to the following T accounts: Cash, Supplies, Accounts Receivable, Accounts Payable, Fees Earned. To the left of each amount posted in the accounts, place the appropriate number to identify the transactions.



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  • CreatedFebruary 04, 2014
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