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  3. requirements 1 and 2. t-accounts have been set up

Requirements 1 and 2. T-accounts have been set up for Cash, Accounts Receivable, and Service...

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Accounting

Requirements 1 and 2. T-accounts have been set up for Cash, Accounts Receivable, and Service Revenue. Start with the beginning balances as follows: Cash $33,000; Accounts Receivable $100,000; and Service Revenue, $0. Post the following 2021 transactions to the T-accounts:
a. Service revenue of $701,000, all on account
b. Collections on account, $712,000
What are the ending balances of Cash, Accounts Receivable and Service Revenue? (Abbreviations used: Beg bal = Beginning balance, End bal = Ending balance, Uncoll acct exp = Uncollectible Account Expense. Enter a "0" for any zero balances.)
Service Revenue
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