Question: Orman Consulting performed services for a client who could not pay immediately. Orman expected to collect the $4,600 the following month. A month later, Orman

Orman Consulting performed services for a client who could not pay immediately. Orman expected to collect the $4,600 the following month. A month later, Orman received $2,100 cash from the client.

1. Record the two transactions on the books of Orman Consulting. Include an explanation for each transaction.

2. Post to these T-accounts: Cash, Accounts Receivable, and Service Revenue. Compute each account balance and denote it as Bal.

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