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Perform the following accounting tasks for the receivables of Freeman and Jones, a law firm, at December 31, 2021. Read the requirements. Requirements 1 and 2. T-accounts have been set up for Cash, Accounts Receivable, and Service Revenue. Start with the beginning balances as follows: Cash $31,000; Accounts Receivable $98,000; and Service Revenue, $O. Post the following 2021 transactions to the T-accounts: a. Service revenue of $696,000, all on account b. Collections on account, $710,000 What are the ending balances of Cash, Accounts Receivable and Service Revenue? (Abbreviations used: Beg bal = Beginning balance, End bal = Ending balance, Uncoll acct exp = Uncollectible Account Expense. Enter a "0" for any zero balances.) Accounts Receivable Cash et more help. Service Revenue Requirements 1. T-accounts have been set up for Cash, Accounts Receivable, and Service Revenue. Start with the beginning balances as follows: Cash $31,000; Accounts Receivable $98,000; and Service Revenue, $0. Post the following 2021 transactions to the T-accounts: a. Service revenue of $606,000, all on account b. Collections on account, $710,000 2. What are the ending balances of Cash, Accounts Receivable and Service Revenue? Print Done X Clear all Check answer

Perform the following accounting tasks for the receivables of Freeman and Jones, a law firm, at December 31, 2021. Read the requirements. Requirements 1 and 2. T-accounts have been set up for Cash, Accounts Receivable, and Service Revenue. Start with the beginning balances as follows: Cash $31,000; Accounts Receivable $98,000; and Service Revenue, $O. Post the following 2021 transactions to the T-accounts: a. Service revenue of $696,000, all on account b. Collections on account, $710,000 What are the ending balances of Cash, Accounts Receivable and Service Revenue? (Abbreviations used: Beg bal = Beginning balance, End bal = Ending balance, Uncoll acct exp = Uncollectible Account Expense. Enter a "0" for any zero balances.) Accounts Receivable Cash et more help. Service Revenue Requirements 1. T-accounts have been set up for Cash, Accounts Receivable, and Service Revenue. Start with the beginning balances as follows: Cash $31,000; Accounts Receivable $98,000; and Service Revenue, $0. Post the following 2021 transactions to the T-accounts: a. Service revenue of $606,000, all on account b. Collections on account, $710,000 2. What are the ending balances of Cash, Accounts Receivable and Service Revenue? Print Done X Clear all Check answer

Financial Accounting
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter5: Accounting Systems
Section: Chapter Questions
Problem 2PA: Transactions related to revenue and cash receipts completed by Albany Architects Co. during the...
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Perform the following accounting tasks for the receivables of Freeman and Jones, a law firm, at December 31, 2021. Read the requirements. Requirements 1 and 2. T-accounts have been set up for Cash, Accounts Receivable, and Service Revenue. Start with the beginning balances as follows: Cash $31,000; Accounts Receivable $98,000; and Service Revenue, $O. Post the following 2021 transactions to the T-accounts: a. Service revenue of $696,000, all on account b. Collections on account, $710,000 What are the ending balances of Cash, Accounts Receivable and Service Revenue? (Abbreviations used: Beg bal = Beginning balance, End bal = Ending balance, Uncoll acct exp = Uncollectible Account Expense. Enter a "0" for any zero balances.) Cash et more help. Service Revenue Accounts Receivable Requirements 1. T-accounts have been set up for Cash, Accounts Receivable, and Service Revenue. Start with the beginning balances as follows: Cash $31,000; Accounts Receivable $98,000; and Service Revenue, $0. Post the following 2021 transactions to the T-accounts: a. Service revenue of $696,000, all on account b. Collections on account, $710,000 2. What are the ending balances of Cash, Accounts Receivable and Service Revenue? Print Done X Clear all Check answer
Transcribed Image Text:Perform the following accounting tasks for the receivables of Freeman and Jones, a law firm, at December 31, 2021. Read the requirements. Requirements 1 and 2. T-accounts have been set up for Cash, Accounts Receivable, and Service Revenue. Start with the beginning balances as follows: Cash $31,000; Accounts Receivable $98,000; and Service Revenue, $O. Post the following 2021 transactions to the T-accounts: a. Service revenue of $696,000, all on account b. Collections on account, $710,000 What are the ending balances of Cash, Accounts Receivable and Service Revenue? (Abbreviations used: Beg bal = Beginning balance, End bal = Ending balance, Uncoll acct exp = Uncollectible Account Expense. Enter a "0" for any zero balances.) Cash et more help. Service Revenue Accounts Receivable Requirements 1. T-accounts have been set up for Cash, Accounts Receivable, and Service Revenue. Start with the beginning balances as follows: Cash $31,000; Accounts Receivable $98,000; and Service Revenue, $0. Post the following 2021 transactions to the T-accounts: a. Service revenue of $696,000, all on account b. Collections on account, $710,000 2. What are the ending balances of Cash, Accounts Receivable and Service Revenue? Print Done X Clear all Check answer
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