| Reinforcement Problems | ||
| LG 25-1. |
| Date | Account Titles and Explanation | Post.
Ref. |
Debit | Credit |
| 5 | Accounts Receivable | 105 | 5 | |
| Security Service Revenue | 401 | 5 | ||
| Security services for Shadow Company | ||||
| 6 | Accounts Payable | 201 | 3 | |
| Cash | 101 | 3 | ||
| Payment on Accounts Payable—London Company | ||||
| 7 | Prepaid Insurance | 115 | 10 | |
| Cash | 101 | 10 | ||
| Prepaid Old Bailey Insurance Company—liability insurance | ||||
| coverage until September 30 | ||||
| 7 | Cash | 101 | 15 | |
| Security Service Revenue | 401 | |||
| Security services for T & P Company | 15 | |||
| 8 | Unearned Revenue | 210 | 3 | |
| Security Service Revenue | 401 | 3 | ||
| Performed part of the services for the customer who paid in advance | ||||
| on June 3 |
Learning
Goal 25, continued
SOLUTIONS
| Learning Goal 25: Use a Basic Accounting System |
S3
|
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