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?

Question

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The Answer of 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?

The Following Transactions Took Place for Xiu Xiu Company During