Crane Ltd. had the following selected opening account balances at the end of April 30: Cash $1,600; Accounts Receivable $2,100; and Accounts Payable $800. Transactions during the month of May are presented in journal entry form below.
GENERAL JOURNAL
Date Account Titles Debit Credit
May 4 Accounts Receivable 2,900
Service Revenue 2,900
7 Dividends Declared 400
Cash 400
11 Cash 1,900
Accounts Receivable 1,900