Perform the following accounting for the receivablos of Bronson and Moore, a law

Question

Perform the following accounting for the receivablos of Bronson and Moore, a law firm, at December 31, 2016. Read the requirements Requirements 1 and 2. Start with the beginning balances for these T-accounts: Cash, $27,000; Accounts Receivable, $9B,000; Service Revenue, $0. Post the following 2016 transactions to the T-accounts Service rovenue of $703,000, all on account Collections on account, $720,000 b. What are the ending balances of Cash, Accounts Receivable and Service Revenue? Prepare the T-accounts for Cash, Accounts Receivable and Service Revenue. (Abbreviations used: Beg bal balances.) Beginning balance, End bal Ending balance, Uncoll acct exp Uncolectibi Rece Cash Accounts Service Revenue

Explanation / Answer

Cash Particulars Amount Particulars Amount Bal b/d      27,000 Accounts Receivable    720,000 Bal c/d    747,000 Total    747,000 Total    747,000

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