To start his own business, Sam Wilson put $21,500 of his 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, Utilities Expense, Accounts Payable, Supplies, and Supplies Expense Item 1 Description 3 Utilities Expense Accounts Payable 2 Accounts Payable Cash Supplies Cash 4 Supplies Expense Supplies Ref. Debit 320 235 1,670 470 Credit 320 235 1,670 470 Cash Utilities Expense Accounts Payable Supplies Supplies Expense X oooo

To start his own business, Sam Wilson put $21,500 of his 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, Utilities Expense, Accounts Payable, Supplies, and Supplies Expense Item 1 Description 3 Utilities Expense Accounts Payable 2 Accounts Payable Cash Supplies Cash 4 Supplies Expense Supplies Ref. Debit 320 235 1,670 470 Credit 320 235 1,670 470 Cash Utilities Expense Accounts Payable Supplies Supplies Expense X oooo

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 9PB: Prepare journal entries to record the following transactions. Create a T-account for Cash, post any...

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