不 Bryson Inc. collects cash from customers two ways: 1. Accrued Revenue. Some customers pay Bryson after Bryson has performed service for the customer. During 2020, Bryson made sales of $53,000 on account and later received cash of $45,000 on account from these customers. 2. Unearned Revenue. A few customers pay Bryson in advance, and Bryson later performs service for the customer. During 2020, Bryson collected $6,500 cash in advance and later earned $5,000 of this amount. Journalize the following for Bryson: a. Earning service revenue of $53,000 on account and then collecting $45,000 on account b. Receiving $6,500 in advance and then earning $5,000 as service revenue a. Journalize Bryson earning service revenue of $53,000 on account and then collecting $45,000 on account. Start by recording earning service revenue on account. (Record debits first, then credits. Explanations are not required.) Date 2020 Accounts Debit Credit

不 Bryson Inc. collects cash from customers two ways: 1. Accrued Revenue. Some customers pay Bryson after Bryson has performed service for the customer. During 2020, Bryson made sales of $53,000 on account and later received cash of $45,000 on account from these customers. 2. Unearned Revenue. A few customers pay Bryson in advance, and Bryson later performs service for the customer. During 2020, Bryson collected $6,500 cash in advance and later earned $5,000 of this amount. Journalize the following for Bryson: a. Earning service revenue of $53,000 on account and then collecting $45,000 on account b. Receiving $6,500 in advance and then earning $5,000 as service revenue a. Journalize Bryson earning service revenue of $53,000 on account and then collecting $45,000 on account. Start by recording earning service revenue on account. (Record debits first, then credits. Explanations are not required.) Date 2020 Accounts Debit Credit

Name: KBryson Inc. collects cash from customers two ways:1. Accrued Revenue
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Description: KBryson Inc. collects cash from customers two ways:1. Accrued Revenue. Some customers pay Bryson after Bryson has performed service for the customer. During2020, Bryson made sales of $53,000 on account and later received cash of $45,000 on account f

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter16: Accounting Periods And Methods

Section: Chapter Questions

Problem 33P

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