Reference no: EM132633193
Questions -
Q1. On September 1, Jerry Co. sold $2,000 of services for cash. On September 10, Jerry Co. sold $5,000 of services on account. On September 20, Jerry Co. collected $3,500 from accounts receivable. Calculate the ending balance in the Cash account for September assuming no beginning balance.
Q2. On September 1, Jerry Co. sold $2,000 of services for cash. On September 10, Jerry Co. sold $5,000 of services on account. On September 20, Jerry Co. collected $3,500 from accounts receivable. Calculate the ending balance in Accounts Receivable for September assuming no beginning balance.
Q3. On September 1, Jerry Co. sold $2,000 of services for cash. On September 10, Jerry Co. sold $5,000 of services on account. On September 20, Jerry Co. collected $3,500 from accounts receivable. Calculate the ending balance in Service Revenue for September assuming no beginning balance.
Q4. At the beginning of October, NC Inc. had a beginning balance in Supplies of $650. During the month, the company purchased $800 of supplies on account. At the end of the month, the company counted up the remaining supplies and determined there was $300 left. What amount should be debited to Supplies Expense at the end of October?
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