What Would Be the Account Balance in the Service Revenue

question 2

Multiple Choice

What would be the account balance in the Service Revenue account after the following transactions, assuming a zero beginning balance?

• A)$17,400
• B)$10,900
• C)$14,400
• D)$ 9,000
• E)$15,900

Comprehend the task-based approaches to studying cognitive development in adolescents.

Understand the concept of epistemic development and changes in knowledge reasoning.

Grasp the role and impact of problem-solving strategies on thought processes during adolescence.

Recognize the implications of multitasking on learning and attention.

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Definitions:

Purchases Journal

A financial record keeping a chronological list of all purchases made by a business, especially on credit.

General Ledger

A comprehensive record of all financial transactions that occur within a company, used to compile financial statements.

Posting

The procedure of transferring journal entries to the ledger accounts.

Adjusting Entries

Journal entries made in accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.