Garg - $7,800 d) Date Account Titles &...

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Garg Employment Agency a) Date Debit Credit Dec. 31 Commission Revenue $92,000 Income Summary $92,000 Dec. 31 Income Summary $7,800 Interest Expense $7,800 b) Date Debit Credit Jan. 1 Commission Revenue $4,200 Accounts Receivable $4,200 Jan. 1 Interest Payable $1,500 Interest Expense $1,500 c) Accounts Receivable Commissio 12/31 Balance $19,800 12/31 Closing $92,000 12/31 Adjusting $4,200 $24,000 $92,000 Jan 1 Reversing $4,200 Jan 1 Reversing $4,200 Interest Payable Interest E 12/31 Adjusting $1,500 12/31 Balance $6,300 Jan 1 Reversing $1,500 12/31 Adjusting $1,500
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Unformatted text preview: $7,800 d) Date Account Titles & Explnations Debit Credit Jan. 10 Cash $4,200 Commission Revenue $4,200 Jan. 15 Interest Expense $2,700 Cash $2,700 e) Commission Revenue Interest E 12/31 Closing $92,000 12/31 Balance $87,800 12/31 Balance $6,300 12/31 Adjusting $4,200 12/31 Adjusting $1,500 $92,000 $92,000 $7,800 Jan 1 Reversing $4,200 Jan 10 $4,200 Jan 15 $2,700 on Revenue 12/31 Balance $87,800 12/31 Adjusting $4,200 $92,000 Expense 12/31 Clsoing $7,800 $7,800 Jan 1 Reversing $1,500 Expense 12/31 Clsoing $7,800 $7,800 Jan 1 Reversing $1,500...
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This note was uploaded on 04/04/2009 for the course ACC 321 taught by Professor Ahmedmokhtar during the Spring '09 term at Ain Shams University.

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Garg - $7,800 d) Date Account Titles &...

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