The following events occur for Morris Engineering during 2021 and 2022, its first two years of operations. February 2, 2021 Provide services to customers on account for $32,600. July 23, 2021 Receive $22,500 from customers on account. December 31, 2021 Estimate that 25% of uncollected accounts will not be received. April 12, 2022 Provide services to customers on account for $45,600. June 28, 2022 Receive $6,000 from customers for services provided in 2021. September 13, 2022 Write off the remaining amounts owed from services provided in 2021. October 5, 2022 Receive $40,500 from customers for services provided in 2022. December 31, 2022 Estimate that 25% of uncollected accounts will not be received. 3. Calculate net accounts receivable at the end of 2021 and 2022. 2021 2022 Total accounts receivable Net accounts receivable
Q: During the month of March 2020, LAM Company provided services of $2,000 total and received $1,000…
A: According to the accrual concept, revenues are recorded when services are rendered and expenses are…
Q: The following events occur for Morris Engineering during 2021 and 2022, its first two years of…
A: Journal entries in the general journal of Morris Engineering will be recorded as follows:
Q: Greenock company has the following information available for accruals for the year ended December…
A: The adjusting entry is required for correcting an error or recording unrecorded transactions or…
Q: In December 2019, Evergreen, a cleaning company, is performing $ 1,500 of service for customers who…
A: Journal entry: Journal entry is the book of original entry where first transactions are recorded in…
Q: The following information relates to Horizon Financial Services on 30 June 2021.
A: Answer Income statement service revenue 64000 total revenue 64000 expenses: wages…
Q: The following events occur for Morris Engineering during 2021 and 2022, its first two years of…
A: A journal entry is used to record day-to-day transactions of the business by debiting and crediting…
Q: On December 12, 2021, Pace Electronics received $36,800 from a customer toward a cash sale of…
A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…
Q: The Piper Ventura Illustrators presented the following information pertaining to accounts that will…
A: Adjusting entries are entries passed at the end of the period to accurately reflect income,…
Q: he Gloria Dimen Company presented the following information pertaining to accounts that will need…
A: Adjusting entries are those entries which are passed at the end of the period in order to accurately…
Q: The following information relates to Horizon Financial Services on 30 June 2021. Equipment 54,000…
A: Here, We know that, as per the Accounting equation, Total assets = Liabilities + owners capital…
Q: This is a continuation of the last problem i submitted to be ansewred. Just a heads up. The…
A: Debit the receiver and credit the giver. Debit what comes in and credit what goes out. Debit…
Q: Required information (The following information applies to the questions displayed below.] The…
A: Net Accounts receivables = Total accounts receivables - Allowance for un-collectible accounts…
Q: On November 1, 2021, a company receives cash of $6,000 from a customer for services to be provided…
A: Given information is: On November 1, 2021, a company receives cash of $6,000 from a customer for…
Q: The following events occur for The Underwood Corporation during 2021 and 2022, its first two years…
A: Requirement 1: Prepare the journal entries for each date.
Q: The Jamesway Corporation had the following situations on December 2021. On December 10, 2021,…
A: Adjusting entries are the entries recorded at the end of an accounting year to record any expenses…
Q: The adjusted trial balance for Oman Chocolate Company at December 31, 2019 is presented below:…
A: Balance sheet is the financial statement of a company. It helps in maintaining the records of…
Q: The ledger of Sheffield Corp, on March 31, 2020, includes the following selected accounts before…
A: Supplies expense = Supplies beginning balance - supplies on hand = 2500 - 1000 = $1,500
Q: The adjusted trial balance for Oman Chocolate Company at December 31, 2019 is presented below:…
A: Closing entries: These are the journal entries that are recorded at the end of an each accounting…
Q: [The following information applies to the questions displayed below.] The following events…
A: Accounts Receivable - Accounts Receivables are the amount unpaid by the customer on the sale made to…
Q: alculate net accounts receivable at the end of 2021 and 2022.
A: Account receivable: Account receivable is the short-term asset for the company reported in the asset…
Q: On April 1, 2025, Orbit Services received $5,800 in advance of performing the services from a…
A: Service completed for April and May = 2 months completed. Amount of revenue earned = $5,800 x 2/3 =…
Q: The following events occur for Morris Engineering during 2021 and 2022, its first two years of…
A: Net accounts receivable at the year-end = Opening accounts receivables + Accounts receivables during…
Q: Below is a summary of all transactions of Dreamworks Bedding Supplies for the month of August…
A: Statement of cash flows: This statement reports all the cash transactions which are responsible for…
Q: Below are transactions for Hurricane Company during 2021. On October 1, 2021, Hurricane lends…
A: Adjusting entries are made at the end of each year to reflect the true position and performance of…
Q: Use the information in Problem to prepare a year-end balance sheet for Armani Company.
A: Balance sheet: It refers to a financial statement that shows all the liabilities, assets, and…
Q: The following information is available for M&M Johnson Inc.: The December 31, 2020, supplies…
A: Adjusting journal entry is the entry which is made at the end of the financial year to record the…
Q: GJ started operating his new salon business (Sir George Salon) during 2017. He provides services for…
A: GJ's Cash collected : Cash collection = Opening accounts receivable + revenues - closing accounts…
Q: The following events occur for Morris Engineering during 2021 and 2022, its first two years of…
A: Journal Entries
Q: Total Lawn Services earned $110,000 of service revenue during 2018, Of the $110,000 eamed, the…
A: Under cash basis accounting, the revenue and expenses are recognised when cash transactions are…
Q: The following events occur for Morris Engineering during 2021 and 2022, its first two years of…
A: A journal worksheet will include the transactions that have occurred over a period of time. When…
Q: The following events occur for Morris Engineering during 2021 and 2022, its first two years of…
A: Preparation of general ledger is the second step in the accounting cycle in which the business…
Q: The following events occur for Morris Engineering during 2021 and 2022, its first two years of…
A: Bad debt expense on December 31,2021 = Uncollected accounts × Bad debt % = (32600-22500)×25% = $2525
Q: Required information [The following information applies to the questions displayed below] The…
A: Posting transactions to : Cash Accounts receivable Allowance for Uncollectible Accounts
Q: Listed below are transactions made by the Jessica Selisana Consulting during 2020- Received a check…
A: Adjusting entries: These are the journal entries passed to rectify or record the transactions that…
Q: The following events occur for Morris Engineering during 2021 and 2022, its first two years of…
A: Bookkeeping can be defined as a process of recording financial transactions on a regular basis in…
Q: Prepare the closing entries for Oman Chocolate Company for the year ended December 31, 2019.…
A: Requirement 1: Closing entries: These are the journal entries that are recorded at the end of an…
Q: The following events occur for The Underwood Corporation during 2021 and 2022, its first two years…
A: Accounts receivables are current assets which shows that the amount that an entity has to collect…
Q: The general ledger of Red Storm Cleaners at January 1, 2021, includes the following account…
A: In preparation of closing journal entries all temporary accounts are transferred Permanent accounts.…
Q: 2, 2021 Provide services to customers on account for $34,400. July 23, 2021 Receive…
A: Account Receivable Account: 2/2/2021 34,400 $24,000 7/23/2021 12/31/2021 10,400…
Q: You are provided with the following information form the accounts of BBS Ltd for the year ending 30…
A: Calculate the accounting profit: Particulars Amount ($) Cash sales $950,000 Less: Cost of…
Q: Consider the following situations for Shocker: 1. On November 28, 2021, Shocker receives a $2,400…
A: 1. $2,400 is received for 3 months, from Nov. 28 to Dec. 31, 1 month has finished. 2. $2,280 is…
Q: Pro Accountants Inc. (PAI) had the following transactions in 2021: A total of $1,450,000 was billed…
A: *As per Bartleby Policy, if the question are not related then answer first only. As per accrual…
Q: The following events occur for Morris Engineering during 2021 and 2022, its first two years of…
A: Journal is the book of original entry in which all the transactions of the business are recorded…
Q: The following information is available for M&M Johnson Inc.: The December 31, 2020, supplies…
A: The adjustment entries are made to adjust the revenues and expenses of the current year.
Q: The Piper Ventura Illustrators presented the following information pertaining to accounts that will…
A: Journal entry: An act of recording the daily transaction of a firm in the journal is called journal…
Q: Stephen's Ontime Delivery (SOD) is a delivery company. On January 1, 2019, one of its customers paid…
A: Income Received in advance is the amount that the company receives with out actually rendering…
Q: Designer Architects had the following additional information at its November 30, 2020, year-end:…
A:
Q: The following information is available for M&M Johnson Inc.: The December 31, 2020, supplies…
A: Adjusting Entry – Adjusting Entries are the entries that make the accrual principle work for the…
Q: Consider the following situations for Shocker: a. On November 28, 2018, Shocker receives a $4,350…
A: Assets: Assets are the resources that are owned, and controlled by the company to generate a…
The following events occur for Morris Engineering during 2021 and 2022, its first two years of operations.
| February 2, 2021 | Provide services to customers on account for $32,600. |
| July 23, 2021 | Receive $22,500 from customers on account. |
| December 31, 2021 | Estimate that 25% of uncollected accounts will not be received. |
| April 12, 2022 | Provide services to customers on account for $45,600. |
| June 28, 2022 | Receive $6,000 from customers for services provided in 2021. |
| September 13, 2022 | Write off the remaining amounts owed from services provided in 2021. |
| October 5, 2022 | Receive $40,500 from customers for services provided in 2022. |
| December 31, 2022 | Estimate that 25% of uncollected accounts will not be received. |
3. Calculate net
|
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- After all revenue and expenses have been closed at the end of the fiscal period ended December 31, Income Summary has a debit of 45,550 and a credit of 36,520. On the same date, D. Mau, Drawing has a debit balance of 12,000 and D. Mau, Capital had a beginning credit balance of 63,410. a. Journalize the entries to close the remaining temporary accounts. b. What is the new balance of D. Mau, Capital after closing the remaining temporary accounts? Show your calculations.Review the following transactions and prepare any necessary journal entries. A. On January 5, Bunnet Co. purchases 350 aprons (Supplies) at $25 per apron from a supplier, on credit. Terms of the purchase are 3/10, n/30 from the invoice date of January 5. B. On February 18, Melon Construction receives advance cash payment from a client for construction services in the amount of $20,000. Melon had yet to provide construction services as of February 18. C. On March 21, Noonan Smoothies sells 875 smoothies for $4 cash per smoothie. The sales tax rate is 6.5%. D. On June 7, Organic Methods paid a portion of their noncurrent note in the amount of $9,340 cash.The following transactions were completed by Hammond Auto Supply during January, which is the first month of this fiscal year. Terms of sale are 2/10, n/30. The balances of the accounts as of January 1 have been recorded in the general ledger in your Working Papers or in CengageNow. Hammond Auto Supply does not track cash sales by customer. Jan. 2Issued Ck. No. 6981 to JSS Management Company for monthly rent, 775. 2J. Hammond, the owner, invested an additional 3,500 in the business. 4Bought merchandise on account from Valencia and Company, invoice no. A691, 2,930; terms 2/10, n/30; dated January 2. 4Received check from Vega Appliance for 980 in payment of 1,000 invoice less discount. 4Sold merchandise on account to L. Paul, invoice no. 6483, 850. 6Received check from Petty, Inc., 637, in payment of 650 invoice less discount. 7Issued Ck. No. 6982, 588, to Fischer and Son, in payment of invoice no. C1272 for 600 less discount. 7Bought supplies on account from Doyle Office Supply, invoice no. 1906B, 108; terms net 30 days. 7Sold merchandise on account to Ellison and Clay, invoice no. 6484, 787. 9Issued credit memo no. 43 to L. Paul, 54, for merchandise returned. 11Cash sales for January 1 through January 10, 4,863.20. 11Issued Ck. No. 6983, 2,871.40, to Valencia and Company, in payment of 2,930 invoice less discount. 14Sold merchandise on account to Vega Appliance, invoice no. 6485, 2,050. Jan. 18Bought merchandise on account from Costa Products, invoice no. 7281D, 4,854; terms 2/10, n/60; dated January 16; FOB shipping point, freight prepaid and added to the invoice, 147 (total 5,001). 21Issued Ck. No. 6984, 194, to M. Miller for miscellaneous expenses not recorded previously. 21Cash sales for January 11 through January 20, 4,591. 23Issued Ck. No. 6985 to Forbes Freight, 96, for freight charges on merchandise purchased on January 4. 23Received credit memo no. 163, 376, from Costa Products for merchandise returned. 29Sold merchandise on account to Bruce Supply, invoice no. 6486, 1,835. 31Cash sales for January 21 through January 31, 4,428. 31Issued Ck. No. 6986, 53, to M. Miller for miscellaneous expenses not recorded previously. 31Recorded payroll entry from the payroll register: total salaries, 6,200; employees federal income tax withheld, 872; FICA Social Security tax withheld, 384.40, FICA Medicare tax withheld, 89.90. 31Recorded the payroll taxes: Social Security tax, 384.40, FICA Medicare tax, 89.90; state unemployment tax, 334.80; federal unemployment tax, 37.20. 31Issued Ck. No. 6987, 4,853.70, for salaries for the month. 31J. Hammond, the owner, withdrew 1,000 for personal use, Ck. No. 6988. Required 1. Record the transactions for January using a sales journal, page 73; a purchases journal, page 56; a cash receipts journal, page 38; a cash payments journal, page 45; and a general journal, page 100. Assume the periodic inventory method is used. 2. Post daily all entries involving customer accounts to the accounts receivable ledger. 3. Post daily all entries involving creditor accounts to the accounts payable ledger. 4. Post daily those entries involving the Other Accounts columns and the general journal to the general ledger. Write the owners name in the Capital and Drawing accounts. 5. Add the columns of the special journals and prove the equality of the debit and credit totals. 6. Post the appropriate totals of the special journals to the general ledger. 7. Prepare a trial balance. 8. Prepare a schedule of accounts receivable and a schedule of accounts payable. Do the totals equal the balances of the related controlling accounts?
- The following transactions were completed by Hammond Auto Supply during January, which is the first month of this fiscal year. Terms of sale are 2/10, n/30. The balances of the accounts as of January 1 have been recorded in the general ledger in your Working Papers or in CengageNow. Hammond Auto Supply does not track cash sales by customer. Jan. 2Issued Ck. No. 6981 to JSS Management Company for monthly rent, 775. 2J. Hammond, the owner, invested an additional 3,500 in the business. 4Bought merchandise on account from Valencia and Company, invoice no. A691, 2,930; terms 2/10, n/30; dated January 2. 4Received check from Vega Appliance for 980 in payment of 1,000 invoice less discount. 4Sold merchandise on account to L. Paul, invoice no. 6483, 850. 6Received check from Petty, Inc., 637, in payment of 650 invoice less discount. 7Issued Ck. No. 6982, 588, to Fischer and Son, in payment of invoice no. C1272 for 600 less discount. 7Bought supplies on account from Doyle Office Supply, invoice no. 1906B, 108; terms net 30 days. 7Sold merchandise on account to Ellison and Clay, invoice no. 6484, 787. 9Issued credit memo no. 43 to L. Paul, 54, for merchandise returned. 11Cash sales for January 1 through January 10, 4,863.20. 11Issued Ck. No. 6983, 2,871.40, to Valencia and Company, in payment of 2,930 invoice less discount. 14Sold merchandise on account to Vega Appliance, invoice no. 6485, 2,050. Jan. 18Bought merchandise on account from Costa Products, invoice no. 7281D, 4,854; terms 2/10, n/60; dated January 16; FOB shipping point, freight prepaid and added to the invoice, 147 (total 5,001). 21Issued Ck. No. 6984, 194, to M. Miller for miscellaneous expenses not recorded previously. 21Cash sales for January 11 through January 20, 4,591. 23Issued Ck. No. 6985 to Forbes Freight, 96, for freight charges on merchandise purchased on January 4. 23Received credit memo no. 163, 376, from Costa Products for merchandise returned. 29Sold merchandise on account to Bruce Supply, invoice no. 6486, 1,835. 31Cash sales for January 21 through January 31, 4,428. 31Issued Ck. No. 6986, 53, to M. Miller for miscellaneous expenses not recorded previously. 31Recorded payroll entry from the payroll register: total salaries, 6,200; employees federal income tax withheld, 872; FICA Social Security tax withheld, 384.40, FICA Medicare tax withheld, 89.90. 31Recorded the payroll taxes: Social Security tax, 384.40, FICA Medicare tax, 89.90; state unemployment tax, 334.80; federal unemployment tax, 37.20. 31Issued Ck. No. 6987, 4,853.70, for salaries for the month. 31J. Hammond, the owner, withdrew 1,000 for personal use, Ck. No. 6988. Required 1. Record the transactions in the general journal for January. If you are using Working Papers, start with page 1 in the journal. Assume the periodic inventory method is used. The chart of accounts is as follows: 2. Post daily all entries involving customer accounts to the accounts receivable ledger. 3. Post daily all entries involving creditor accounts to the accounts payable ledger. 4. Post daily the general journal entries to the general ledger. Write the owners name in the Capital and Drawing accounts. 5. Prepare a trial balance. 6. Prepare a schedule of accounts receivable and a schedule of accounts payable. Do the totals equal the balances of the related controlling accounts?Write-Off of Uncollectible Accounts King Enterprises had 27 customers utilizing its financial planning services in 2019. Each customer paid King $25,000 for receiving Kings assistance. King estimates that 2% of its $675,000 credit sales in 2019 will be uncollectible. During 2020, King wrote off $2,700 related to services performed in 2019. Required: 1. Prepare the journal entry to record the defaulted balance. 2. Prepare the adjusting entry to record the bad debt expense for 2019.If a customer owed your company $100 on the first day of the month, then purchased $200 of goods on credit on the fifth and paid you $50 on fifteenth, the customers ending balance for the month would show a (debit or credit) of how much?
- Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for 8,500. Prepare the journal entry for McKinncy to record the collection of the account previously written off.The balance in Ashwood Companys accounts payable account at December 31, 2019, was 1,200,000 before any necessary year-end adjustment relating to the following: Goods were in transit from a vendor to Ashwood on December 31, 2019. The invoice cost was 85,000, and the goods were shipped FOB shipping point on December 29, 2019. The goods were received on January 2, 2020. Goods shipped FOB shipping point on December 20, 2019, from a vendor to Ashwood were lost in transit. The invoice cost was 40,000. On January 5, 2020, Ashwood filed a 40,000 claim against the common carrier. Goods shipped FOB destination on December 22, 2019, from a vendor to Ashwood were received on January 6, 2020. The invoice cost was 20,000, What amount should Ashwood report as accounts payable on its December 31,2019, balance sheet? a. 1,260,000 b. 1,285,000 c. 1,325,000 d. 1,345,000The transactions completed by PS Music during June 2019 were described at the end of Chapter 1. The following transactions were completed during July, the second month of the businesss operations: July 1.Peyton Smith made an additional investment in PS Music by depositing 5,000 in PS Musics checking account. 1.Instead of continuing to share office space with a local real estate agency, Peyton decided to rent office space near a local music store. Paid rent for July, 1,750. 1.Paid a premium of 2,700 for a comprehensive insurance policy covering liability, theft, and fire. The policy covers a one-year period. 2.Received 1,000 cash from customers on account. 3.On behalf of PS Music, Peyton signed a contract with a local radio station, KXMD, to provide guest spots for the next three months. The contract requires PS Music to provide a guest disc jockey for 80 hours per month for a monthly fee of 3,600. Any additional hours beyond 80 will be billed to KXMD at 40 per hour. In accordance with the contract, Peyton received 7,200 from KXMD as an advance payment for the first two months. 3.Paid 250 to creditors on account. 4.Paid an attorney 900 for reviewing the July 3 contract with KXMD. (Record as Miscellaneous Expense.) 5.Purchased office equipment on account from Office Mart, 7,500. 8.Paid for a newspaper advertisement, 200. 11.Received 1,000 for serving as a disc jockey for a party. 13.Paid 700 to a local audio electronics store for rental of digital recording equipment. 14.Paid wages of 1,200 to receptionist and part-time assistant. Enter the following transactions on Page 2 of the two-column journal: 16.Received 2,000 for serving as a disc jockey for a wedding reception. 18.Purchased supplies on account, 850. July 21. Paid 620 to Upload Music for use of its current music demos in making various music sets. 22.Paid 800 to a local radio station to advertise the services of PS Music twice daily for the remainder of July. 23.Served as disc jockey for a party for 2,500. Received 750, with the remainder due August 4, 2019. 27.Paid electric bill, 915. 28.Paid wages of 1,200 to receptionist and part-time assistant. 29.Paid miscellaneous expenses, 540. 30.Served as a disc jockey for a charity ball for 1,500. Received 500, with the remainder due on August 9, 2019. 31.Received 3,000 for serving as a disc jockey for a party. 31.Paid 1,400 royalties (music expense) to National Music Clearing for use of various artists music during July. 31.Withdrew 1,250 cash from PS Music for personal use. PS Musics chart of accounts and the balance of accounts as of July 1, 2019 (all normal balances), are as follows: Instructions 1. Enter the July 1, 2019, account balances in the appropriate balance column of a four-column account. Write Balance in the Item column and place a check mark () in the Posting Reference column. (Hint: Verify the equality of the debit and credit balances in the ledger before proceeding with the next instruction.) 2. Analyze and journalize each transaction in a two-column journal beginning on Page 1, omitting journal entry explanations. 3. Post the journal to the ledger, extending the account balance to the appropriate balance column after each posting. 4. Prepare an unadjusted trial balance as of July 31, 2019.
- The transactions completed by PS Music during June 2019 were described at the end of Chapter 1. The following transactions were completed during July, the second month of the business's operations: July 1. Peyton Smith made an additional investment in PS Music by depositing 5,000 in PS Music's checking account. 1. Instead of continuing to share office space with a local real estate agency, Peyton decided to rent office space near a local music: store. Paid rent for July, 1,750. 1. Paid a premium of 2,700 for a comprehensive insurance policy covering liability, theft, and fire. The policy covers a one-year period. 2. Received 1,000 cash from customers on account. 3. On behalf of PS Music, Peyton signed a contract with a local radio station, KXMD, to provide guest spots for the next three months. The contract requires PS Music to provide a guest disc jockey for SO hours per month for a monthly fee of 3,600. Any additional hours beyond SO will be billed to KXMD at 40 per hour. In accordance with the contract, Peyton received 7,200 from KXMD as an advance payment for the first two months. 3. Paid 250 to creditors on account. 4. Paid an attorney 900 for reviewing the July 3 contract with KXMD. (Record as Miscellaneous Expense.) 5. Purchased office equipment on account from Office Mart, 7,500. 8. Paid for a newspaper advertisement, 200. 11. Received 1,000 for serving as a disc jockey for a party. 13. Paid 700 to a local audio electronics store for rental of digital recording equipment. 11. Paid wages of 1,200 to receptionist and part-time assistant. Enter the following transactions on Page 2 of the two-column journal: 16. Received 2,000 for serving as a disc jockey for a wedding reception. 18. Purchased supplies on account, 850. July 21. Paid 620 to Upload Music for use of its current music demos in making various music sets. 22. Paid 800 to a local radio station to advertise the services of PS Music twice daily for the remainder of July. 23. Served as disc jockey for a party for 2,500. Received 750, with the remainder due August 4, 2019. 27. Paid electric bill, 915. 28. Paid wages of 1,200 to receptionist and part-time assistant. 29. Paid miscellaneous expenses, 540. 30. Served as a disc jockey for a charity ball for 1,500. Received 500, with the remainder due on August 9, 2019. 31. Received 3,000 for serving as a disc jockey for a party. 31. Paid 1,400 royalties (music expense) to National Music Clearing for use of various artists' music during July. 31. Withdrew l,250 cash from PS Music for personal use. PS Music's chart of accounts and the balance of accounts as of July 1, 2019 (all normal balances), are as follows: 11 Cash 3,920 12 Accounts receivable 1,000 14 Supplies 170 15 Prepaid insurance 17 Office Equipment 21 Accounts payable 250 23 Unearned Revenue 31 Peyton smith, Drawing 4,000 32 Fees Earned 500 41 Wages Expense 6,200 50 Office Rent Expense 400 51 Equipment Rent Expense 800 52 Utilities Expense 675 53 Supplies Expense 300 54 music Expense 1,590 55 Advertising Expense 500 56 Supplies Expense 180 59 Miscellaneous Expense 415 Instructions 1.Enter the July 1, 2019, account balances in the appropriate balance column of a four-column account. Write Balance in the Item column and place a check mark () in the Posting Reference column. (Hint: Verify the equality of the debit and credit balances in the ledger before proceeding with the next instruction.) 2.Analyze and journalize each transaction in a two-column journal beginning on Page 1, omitting journal entry explanations. 3.Post the journal to the ledger, extending the account balance to the appropriate balance column after each posting. 4.Prepare an unadjusted trial balance as of July 31, 2019.Post the following July transactions to T-accounts for Accounts Receivable, Sales Revenue, and Cash, indicating the ending balance. Assume no beginning balances in these accounts. A. on first day of the month, sold products to customers for cash, $13,660 B. on fifth day of month, sold products to customers on account, $22,100 C. on tenth day of month, collected cash from customer accounts, $18,500
