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Consider the recorded transactions below. Transaction Account Name Debit Credit 1 . Accounts Receivable 9 , 0

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Question:

Consider the recorded transactions below.
Transaction Account Name Debit Credit
1. Accounts Receivable 9,000
Service Revenue 9,000
2. Supplies 1,500
Accounts Payable 1,500
3. Cash 8,600
Accounts Receivable 8,600
4. Advertising Expense 1,000
Cash 1,000
5. Accounts Payable 2,100
Cash 2,100
6. Cash 1,100
Deferred Revenue 1,100
Required:
Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions is: Cash, $1,800; Accounts Receivable, $2,600; Supplies, $240; Accounts Payable, $1,900; Deferred Revenue, $140. Service Revenue and Advertising Expense each have a beginning balance of zero.

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Sure here are the journal entries for the transactions Transaction Account Name Debit RM Credit RM 1 ... View the full answer


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Related Book For  answer-question
College Accounting A Contemporary Approach

College Accounting A Contemporary Approach

ISBN: 978-0073396958

2nd edition

Authors: David Haddock, John Price, Michael Farina

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