Perform the following accounting tasks for the receivables of Freeman and Jones, a law firm, at...

  

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Perform the following accounting tasks for the receivables of Freeman and Jones, a law firm, at December 31, 2021. Read the requirements. Requirements 1. T-accounts have been set up for Cash, Accounts Receivable, and Service Revenue. Start with the beginning balances as follows: Cash $36,000; Accounts Receivable $97,000; and Service Revenue, SO. Post the following 2021 transactions to the T-accounts: a. Service revenue of $698,000, all on account b. Collections on account, $712,000 2. What are the ending balances of Cash, Accounts Receivable and Service Revenue? Perform the following accounting tasks for the receivables of Freeman and Jones, a law firm, at December 31, 2021. Read the requirements. Requirements 1. T-accounts have been set up for Cash, Accounts Receivable, and Service Revenue. Start with the beginning balances as follows: Cash $36,000; Accounts Receivable $97,000; and Service Revenue, SO. Post the following 2021 transactions to the T-accounts: a. Service revenue of $698,000, all on account b. Collections on account, $712,000 2. What are the ending balances of Cash, Accounts Receivable and Service Revenue?

Answer rating: 100% (QA)

TAccounts Cash Date Description Debit Credit Beginning Balance 360... View the full answer