This Test: 50 pts poss 3of22 (1 complete) Perfarm the tallowing accounting for t
ID: 2543191 • Letter: T
Question
This Test: 50 pts poss 3of22 (1 complete) Perfarm the tallowing accounting for the recevables of Beonson and Moore, a law firm, at December 31, 2016. Read the reqirements Requirements 1 and 2 Start with the beginning balances for these Taccouts: Cash, $27,000, Accounts Receivabie, $38,000, Service Revenue, SO Post the tolowing 2016 transactions to the Taccounts a Service revenue of $/03,000, all on account b. Collections on account, $720,000 Beg ba Whot are the ending balances of Cash, Accounts Recevable and Service Revere? Prepave the Tacc Abbreviations uned Beg bal Beginning balance, End bal- Ending balance, Uncoll acct exp Uncol Collections ts Recevable and Service Revenue e. Entor a "T for any zeso balances) End bal Accounts Re Service sevenue Uncoll acct exp from any list or enter any number in the input fields and then c continue to the next question 5 6 9Explanation / Answer
Cash Account
Beginning balance
27,000
End balance
7,47,000
Collections on account
7,20,000
Total
7,47,000
7,47,000
Accounts Receivable
Beginning balance
98,000
Collections on account
7,20,000
Service revenue
7,03,000
End balance
81,000
Total
8,01,000
8,01,000
Service Revenue
Beginning balance
-
End balance
7,03,000
Receivables
7,03,000
Total
7,03,000
7,03,000
Cash Account
Beginning balance
27,000
End balance
7,47,000
Collections on account
7,20,000
Total
7,47,000
7,47,000
Accounts Receivable
Beginning balance
98,000
Collections on account
7,20,000
Service revenue
7,03,000
End balance
81,000
Total
8,01,000
8,01,000
Service Revenue
Beginning balance
-
End balance
7,03,000
Receivables
7,03,000
Total
7,03,000
7,03,000
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