Sure! Let’s go through each transaction step-by-step and update the T-accounts accordingly. We will start with the initial balances for each account and then apply each transaction.
### Initial Balances:
- Cash: \[tex]$2200
- Accounts Receivable: \$[/tex]3000
- Supplies: \[tex]$280
- Accounts Payable: \$[/tex]2300
- Deferred Revenue: \[tex]$180
- Service Revenue: \$[/tex]0
- Advertising Expense: \[tex]$0
### Transactions:
1. Provided services on credit:
- Debit: Accounts Receivable, \$[/tex]1500
- Credit: Service Revenue, \[tex]$1500
T-Accounts After Transaction 1:
- Accounts Receivable: \$[/tex]3000 + \[tex]$1500 = \$[/tex]4500
- Service Revenue: \[tex]$0 + \$[/tex]1500 = \[tex]$1500
2. Received cash payment for services:
- Debit: Cash, \$[/tex]800
- Credit: Service Revenue, \[tex]$800
T-Accounts After Transaction 2:
- Cash: \$[/tex]2200 + \[tex]$800 = \$[/tex]3000
- Service Revenue: \[tex]$1500 - \$[/tex]800 = \[tex]$700
3. Purchased supplies on account:
- Debit: Supplies, \$[/tex]200
- Credit: Accounts Payable, \[tex]$200
T-Accounts After Transaction 3:
- Supplies: \$[/tex]280 + \[tex]$200 = \$[/tex]480
- Accounts Payable: \[tex]$2300 + \$[/tex]200 = \[tex]$2500
4. Paid for advertising in cash:
- Debit: Advertising Expense, \$[/tex]150
- Credit: Cash, \[tex]$150
T-Accounts After Transaction 4:
- Cash: \$[/tex]3000 - \[tex]$150 = \$[/tex]2850
- Advertising Expense: \[tex]$0 + \$[/tex]150 = \[tex]$150
5. Received cash in advance for services:
- Debit: Cash, \$[/tex]300
- Credit: Deferred Revenue, \[tex]$300
T-Accounts After Transaction 5:
- Cash: \$[/tex]2850 + \[tex]$300 = \$[/tex]3150
- Deferred Revenue: \[tex]$180 - \$[/tex]300 = \[tex]$(120)
### Final Balances:
- Cash: \$[/tex]3150
- Accounts Receivable: \[tex]$4500
- Supplies: \$[/tex]480
- Accounts Payable: \[tex]$2500
- Deferred Revenue: \$[/tex](120)
- Service Revenue: \[tex]$700
- Advertising Expense: \$[/tex]150
These represent the ending balances for each T-account after considering all transactions.
