Reference no: EM132493231
Problem - Using T accounts to record transactions involving revenues and expenses.
The following occurred during June at Young's Professional Counseling. Post the following transactions into the appropriate T accounts.
Were supposed to place the negative balances into the t accounts, but on this paper, I don't see any negative balances. Can you please tell me how I format the numbers? Below are the account credit and debt expenditures.
Purchased office supplies for $2,300 in cash.
Clients paid a total of $22,500 cash in fees.
Paid the current month's office rent of $4,300.
Completed professional counseling, billed client for $3,300.
Client paid fee of $1,300 for weekly counseling, previously billed.
Paid office salaries of $3,900.
Paid telephone bill of $510.
Billed client for $2,300 fee for preparing a counseling evaluation.
Purchased office supplies of $1,030 on account.
Paid office salaries of $3,900.
Collected $2,300 from client who was billed.
Paid a total of $8,400 cash in fees.
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