Essay
The following transactions took place for Xiu Xiu Company during June 2018:
(a) Purchased equipment on account for $9,000.
(b) Billed customers $5,000 for services performed.
(c) Made payment of $2,300 on account for equipment purchased earlier in month.
(d) Collected $2,900 on customer accounts.
1. What is the balance in Accounts Payable at June 30, 2018?
2. What is the balance in Accounts Receivable at June 30, 2018?
Correct Answer:
Verified
Correct Answer:
Verified
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