Information for the month of March

1. 1. Cash. . . . . . . . . . . . . . . . . . $10,500 $5,500 (Dr.)
2. 
   
3.                          Cash receipts, $83,000 (Cr.)
4. 
   
5. 2. Accounts Receivable. . . . . 25,500 23,500 (Dr.)
6. 
   
7.                            Sales on account, $50,500 (Cr.)
8. 
   
9. 3. Notes Payable. . . . . . . . . . 11,500 19,500 (Dr.)
10. 
    
11.                             New borrowing, $28,000 (Cr.)
12. 
    
13. Prepare T-Accounts and determine the ending balances of each account.

Answer rating: 100% (QA)

1 Cash Beginning Transactions Ending Debit 10500 5500 Cr C... View the full answer