| Transactions | ||
| Aug. | 1 | Billed customers for fees earned, $74,140. |
| 4 | Purchased supplies on account, $2,150. | |
| 8 | Received cash from customers on account, $62,770. | |
| 11 | Paid creditors on account, $890. | |
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, select the appropriate date.
continued labels at the top
this is an example of the set up
Homework Answers
Note
1.It is not in asked the question to close the accounts, but for more convenience I closed all accounts except
Fees earned and Supplies account as i dont have any information in the question.
| Date | General Jouranl | $ Debit | $ Credit |
| Aug-08 | Account receviable | 74,140 | |
| To fees earned | 74,140 | ||
| (Being serive/sales provied on account) | |||
| Aug-04 | Supplies account | ||
| To Account payable | 2,150 | ||
| (Being supplies pirchased on account) | 2,150 | ||
| Aug-08 | Cash account | 62,770 | |
| To account receviable | 62,770 | ||
| (Being cash recevied from on account | |||
| customers) | |||
| Aug-11 | Account payable | 890 | |
| To cash | 890 | ||
| (Being cash paid to crediors for supplies |
| Cash Account | |||||||
| Date | $ Amount | Date | $ Amount | ||||
| Aug-08 | To account receviable | 62,770 | Aug-11 | By Account payable | 890 | ||
| To closing balance | 61,880 | ||||||
| 62,770 | 62,770 | ||||||
| Supplies Account | |||||||
| Date | $ Amount | Date | $ Amount | ||||
| Aug-04 | Account payable | 2,150 | |||||
| (Purchased supplies on credit) | |||||||
| Account Receviables | |||||||
| Date | $ Amount | Date | $ Amount | ||||
| Aug-01 | To Fees earned(sales) | 74,140 | Aug-08 | By cash | 62,770 | ||
| (Received cash from customers) | |||||||
| By closing balance | 11,370 | ||||||
| 74,140 | 74,140 | ||||||
| Account payables | |||||||
| Date | $ Amount | Date | $ Amount | ||||
| Aug-11 | To cash | 890 | Aug-04 | By Supplies | 2,150 | ||
| (Paid to creditors on account) | |||||||
| To closing Balance | 1260 | ||||||
| 2,150 | 2,150 | ||||||
| Fess earned | |||||||
| Date | $ Amount | Date | $ Amount | ||||
| Aug-01 | By Account Recevaible | 74,140 | |||||
| ( sales/service on credit) |
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Transactions and T Accounts
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