Homework Answers
| Account Titles | Debit | Credit | ||
| 1 | Cash | $ 7,000 | ||
| Deferred Revenue | $ 7,000 | |||
| 2 | Cash | $ 41,000 | ||
| Refundable Deposits | $ 41,000 | |||
| 3 | Accounts Receivable | $ 9,75,840 | =912000+63840 | |
| Sales Revenue | $ 9,12,000 | |||
| Sales Tax Payable | $ 63,840 | =912000*7% |
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