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  3. 1. 3. b. on july 5. tina murphy performed legal se

1. 3. b. On July 5. Tina Murphy performed legal services for a client who...

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Accounting

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1. 3. b. On July 5. Tina Murphy performed legal services for a client who could not pay immediately. The business expected to collect the $14,000 the following month. On August 18, the business received $8,400 cash from the client. Record the two transactions for Tina Murphy, Lawyer. Include an explanation for each transaction. 2. Open these T-accounts: Cash: Accounts Receivable: Service Revenue, Post to all three accounts. Compute each account's balance, and denote it as Bal Answer these questions based on your analysis: How much did the business eam? Which account shows this amount? How much in total assets did the business acquire as a result of the two transactions? Identity each asset and show its amount Requirement 1. Record the two transactions for Tina Murphy, Lawyer. Include an explanation for each transaction Record the service performed on account for S14,000. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journal Entry + Accounts Debit Credit Jul 5

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