ent Tmes 12:21B PH/Reinings49 /Exercise 3-17 Here is the ledger for Crane Compan

Question

ent Tmes 12:21B PH/Reinings49 /Exercise 3-17 Here is the ledger for Crane Company Oct. 1 Oct. 10 Oct. 10 Oct. 20 Oct. 25 Cash 8,730 Oct. 4 2,710 Oct. 12 9,730 Oct. 15 2,130 3,230 390 440 640 840 Oct. 30 3,730 Oct. 31 Accounts Receivable 940 Oct. 20 1,060 Oct. 6 840 Oct. 20 1,910 2,130 Oct. 31 Equipment 4,730 Notes Payable Oct. 4 Oct. 3 Oct. 10 9,730 Accounts Payable 3,230 Oct.3 Common Stock Oct. 12 4,730 Oct. 1 8,730 Oct. 25 3,730 asy Paisx I s 2000-2018 Jahn Wiley & Sons JInc. Al Rights Reserved. A oivision of 2ahn wis

Explanation / Answer

a) Date Account Titles and Explanation Debit Credit 1-Oct Cash $8,730 To Common Stock $8,730 (Being issued common stock for cash) 10-Oct Cash $2,710 To Service Revenue $2,710 (Being cash received for services provided) 10-Oct Cash $9,730 To Notes Payable $9,730 (Being issued note payable for cash) 20-Oct Cash $840 To Accounts Receivable $840 (Being cash received in payment of account) 20-Oct Accounts Receivable $1,060 To Service Revenue $1,060 (Being credit sales provided on account) CRANE COMPANY TRIAL BALANCE FOR THE MONTH ENDED OCTOBER Debit Credit Cash 18910 Accounts Receivable 1160 Supplies 220 Equipment 4730 Notes Payable $9,730 Accounts Payable 1500 Common Stock 12460 Dividends 440 Service Revenue 4710 Salaries and wages expense 640 Supplies Expense 1910 Rent Expense 390 28400 28400

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