Selected journal entries for Wang Enterprises are presented in BE2.7. Post the transactions using the standard form
Question:
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.
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
Step by Step Answer:
Cash Date May 12 15 Explanation Ref J1 J1 Debit 4200 3...View the full answer
Financial Accounting with International Financial Reporting Standards
ISBN: 978-1119504306
4th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Related Video
A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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