Assessment Progress Question #17 To start her own business, Patricia Gray put $2

Question

Assessment Progress Question #17 To start her own business, Patricia Gray put $29,000 of her personal cash into the business account. Given the following additional transactions calculate the ending balance of each of the following accounts after all journal entry amounts are posted Cash, Unearned Revenue, Service Revenue, and Accounts Receivable Item Description Ref. Debit Credit 1 Caslh 1,700 Unearned Revenue 1,700 Cash Unearned Revenue Service Revenue Accounts Receivable 2 Unearned Revenue Service Revenue 1,230 1,230 3 Accounts Receivable 1,600 Service Revenue 1,600 Clear Undo Help 4 Cash 1,300 Accounts Receivable 1,300 Next>> I don't know

Explanation / Answer

Working:

T-accounts:

Cash $       32,000 Unearned revenue $ 470 Service revenue $         2,830 Accounts receivable $ 300

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