Question Details

Given the following ledger account and postings, complete the Balance column



1.	Provide explanations for the following related journal entries:

a.	Prepaid Rent	4,000	
		Cash		4,000

b.	Trucks 	36,000	
		Notes Payable		36,000

c.	Cash	600	
		Accounts Receivable		600

d.	Notes Payable	18,000	
		Cash		18,000

e.	Cash	2,500	
		Unearned Fees		2,500
	2.	Given the following ledger account and postings, complete the Balance column. Assume no previous postings in the account.

Unearned Art Fees	Account No. 213
Date	   Item	Post.Ref.	  Debit	  Credit	         Balance
					                                  Debit	   Credit
2010						
May	1		J1		                  3,100		
	7		J1	           700			
	8		J2		                   500		
	12		J2	          200			



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