(Learning Objective 4: Account for accounts receivable) Perform the following accounting tasks for the receivables of Able and Bowman, a law firm, at December 31, 2018. Requirements 1. Set up

(Learning Objective 4: Account for accounts receivable) Perform the following accounting tasks for the receivables of Able and Bowman, a law firm, at December 31, 2018. Requirements 1. Set up T-accounts for Cash, Accounts Receivable, and Service Revenue. Start with the beginning balances as follows: Cash $28,000; Accounts Receivable $103,000; and Service Revenue $0. Post the following 2018 transactions to the T-accounts: a. Service revenue of $705,000, all on account b. Collections on account, $713,000 2. are the ending balances of Cash, Accounts Receivable, and Service Revenue?

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