Question

Brief Exercise 2-08 Selected transactions for the Sunland Bryce Company are presented in journal form below. Date May 5 Accounts Receivable Account Titles and Explanation Ref. Debit Credit 5,900 Service Revenue 5,900 Billed for services performed) 12 Cash 4,300 Accounts Receivable 4,300 Received cash in payment of account) 15 Cash 3,000 Service Revenue 3,000 (Recelved cash for services performed) Post the transactions using the standard form of account. (Post entries in the order presented in the problem statement.) Date Explanation Ref. Debit Credit May 5 31 Date Explanation Ref. Debit Credit 31 Date Expianation Ref.Debit 21 SHOW ANSWER F5

Answer 1

SOLUTION:

Cash
Date	Explanation Ref	Debit	Credit	Balance
12-May	31	4,300		4,300
15-May	31	3,000		7,300
Accounts Receivable
Date	Explanation Ref	Debit	Credit	Balance
05-May	31	5,900		5,900
12-May	31		4,300	1,600
Service Revenue
Date	Explanation Ref	Debit	Credit	Balance
05-May	31		5,900	5,900
15-May	31		3,000	8,900