The following selected transactions were completed during May of the current year: 1. Billed customers for fees

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The following selected transactions were completed during May of the current year:

1. Billed customers for fees earned, $12,190.

2. Purchased supplies on account, $1,250.

3. Received cash from customers on account, $9,150.

4. Paid creditors on account, $750.

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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Financial Accounting An Integrated Statements Approach

ISBN: 978-0324312119

2nd Edition

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

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