Your co-worker wanted the afternoon off and you graciously agreed to finish up his work for him.
Question:
Your co-worker wanted the afternoon off and you graciously agreed to finish up his work for him. Use the completed journal entries provided and post them to their T-accounts. Assume all accounts start with a zero balance. Compute the balance of each account and mark it as Bal.
Transcribed Image Text:
Journal Post. Ref Date Account Titles and Explanations Debit Credit Apr. 1 Cash 32,000 Taylor Moffat, Capital 32,000 Received investment from owner Medical Supplies 9,500 Accounts Payable Purchased supplies on account. 9,500 2 Rent Expense 4,100 Cash 4,100 Paid office rent for April. Cash 6,800 Service Revenue 6,800 Performed service for cash. Accounts Payable 2,700 Cash 2,700 Partial payment of balance on account.
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Cash 32000 6800 Bal 32000 4100 2700 Tay...View the full answer
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Related Book For
Horngrens Accounting
ISBN: 978-0133855371
10th Canadian edition Volume 1
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood
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