FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Providing service of $600, receiving $200 cash and the remaining on account is recorded as: Debit service revenue $600 and credit cash $200 and credit accounts receivable $400 Debit service revenue $600 and credit cash $200 and credit accounts payable $400 Debit cash $200 and debit $400 accounts receivable and credit service revenue $600 O None of the optionsarrow_forward3arrow_forwardPlease help me prepare a T-Account.arrow_forward
- Records show that $750 of cash receipts originally recorced as unearned admissions revenue had been earned as of December 31. Show calculations where necessary. Calculations: Date Debit Credit Db Crarrow_forwardAshvinbhaiarrow_forwardABC Company has the following T Account at the end of the year: Post to T-Acct (aka Ledger) Asset Cash Liability + C/ stock - Dividend + Acct Payable Commonstah Dividend Revenue 30,000 1,000 500 Common stah Dividend Service Revenue 30,000 480 Expense Rent expense 41000 500 15,000 4,000 5,000 15,000 480 Travel expense 1,000 Insurance expense 5,000arrow_forward
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