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Question - Al's Plumbing Services has the following account balances as of March 31:
Cash 1500
Accounts Receivable 2,100
Accounts Payable 650
A. Plumber, Capital 2950
The following transactions took place during April:
Services of $ 3,100 were made on account.
Paid April rent of $ 1,100.
Bought $650 of supplies on account. Collected $ 4,000 cash on outstanding customer accounts.
Made payments on account $500.
Instructions -
1. Journalize April's transactions.
2. What are the April 30 account balances? Hint: You may wish to use T accounts.
How does this article relate to the accounting profession, What benefits can practicing accountants gain from this article
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