Question

Selected transactions from the journal of Baylee Inc. during its first month of operations are presented here. Credit Date Aug. 1 Debit 8,000 8,000 10 1,700 1,700 12 6,200 Account Titles Cash Common Stock Cash Service Revenue Equipment Cash Notes Payable Accounts Receivable Service Revenue Cash Accounts Receivable 1,200 5,000 25 3,400 3,400 31 600 600 Your answer is partially correct. Try again. Post the transactions to T-accounts. (Post entries in the order of journal entries presented in the question.) Cash Aug. 1 4 1 8000 Aug. 10 3 170017 1200 - Aug. 317 600 .00) Accounts Receivable Aug. 25 4 Ï 3400)| Aug. 31: L ood

Answer 1

ANSWER

The following are the T accounts:

note: they are not in the order as given in the question, but the balances are accurate.

Cash a/c

Aug 1	$8,000	Aug 12	$1,200
Aug 10	$1,700
Aug 31	$600
Bal	$9,100

Accounts receivable a/c

Aug 25	$3,400	Aug 31	$600
bal	$2,800

Equipment a/c

Aug 12	$6,200	......	...
Bal	$6,200

Notes payable a/c

.......	.....	Aug 12	$5,000
		Bal	$5,000

common stock a/c

..............	......	Aug 1	$8,000
		Bal	$8,000

Service revenue a/c

...........	......	Aug 10	$1,700
		Aug 25	$3,400
		Bal	$5,100

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