Question

EX 2-9 Transactions and T accounts The following selected transactions were completed during OBJ.2,3 Billed customers for August fees earned, $73,900 of the current year: 2. Purchased supplies on account; $1,960 3. Received cash from customers on account; $62,770 Paid creditors on account; $820. Journalize these transactions in a two-column journal, using the appropriate number to identify the transactions. Journal entry explanations may be omitted. b. Post the entries prepared in (a) to the following T accounts: Cash, Supplies, Accounts Receivable, Accounts Payable, Fees Earned. To the left of each amount posted in the accounts, place the appropriate number to identify the transactions. Assume that the unadjusted trial balance on August 31 shows a credit balance for Accounts Receivable: Does this credit balance mean an error has occurred?

          EX 2-9 Transactions and T accounts The following selected transactions were completed during OBJ.2,3 Billed customers for August fees earned, $73,900 of the current year: 2. Purchased supplies on account; $1,960 3. Received cash from customers on account; $62,770 Paid creditors on account; $820. Journalize these transactions in a two-column journal, using the appropriate number to identify the transactions. Journal entry explanations may be omitted. b. Post the entries prepared in (a) to the following T accounts: Cash, Supplies, Accounts Receivable, Accounts Payable, Fees Earned. To the left of each amount posted in the accounts, place the appropriate number to identify the transactions. Assume that the unadjusted trial balance on August 31 shows a credit balance for Accounts Receivable: Does this credit balance mean an error has occurred?

Added by Dolores R.

Question

Please give Ace some feedback