Chicago Consulting, an engineering consulting firm, provided $6,000 of services to a client; the client paid $2,000 when the bill was submitted and will pay the balance within a week. Chicago Consulting will record this transaction by: Multiple Choice Cash 2,000 4,000 Dr. Dr. Fees revenue Cr. Fees receivable 6,000 Dr. Cash 2,000 Cr. Fees revenue 2,000 Dr. Cash 2,000 Dr. Fees receivable 4,000 Cr. Fees revenue 6,000 Dr. Fees revenue 6,000 4,000 2,000 Cr. Fees receivable Cr. Cash

Jear's Finess Club provides monthly memberships as well as personal training sessions. The personal trainers eam 50% of the revenue for all personal training sessions. The Feness Club also sels nutrition products. Jean's general ledger accounts indicate the following for the year. The front desk staff wages expense remains the same throughout the year Account Membership revenue Personal training revenue Product sales Amount $143.000 $76.000 $60.000 $35.000 $13,000 OA $214,000 OB. $393,000 OC. $181,000 OD. $287.000 Account Personal trainer wages expense Space rental expense Straight line depreciation expense Rental insurance expense Cost of product sold Front desk staff wages expense If a contribution margin income statement is prepared for the year, what is operating income? Anount $11,000 $4,000 $3,000

The Accounts Recelvable account has a beglnning balance of $24.000 and the company des e $60,000 on account during the month. The ending balance was $18.000 How much did the company receive from customers during the montht O $6,000. O $66,000. O $102,000. O $54,000.

On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints. Legal services total $9,900. In payment for the services, Whole Grain Bakery signs a 8% note requiring the payment of the face amount and interest to Terrell & Associates on September 1. Required: For Whole Grain Bakery, record the issuance of the note payable on March 1 and the cash payment on September 1. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Britta's Sandwiches operates as a sandwich and wrap shop. Its customers can pay by cash, debit or credit card. For each debit transaction, Britta pays $0.20. For credit cards, Britta pays 3% of the total credit card transactions. On September 10, 2022, Britta compiled the following summary for the work day. Transaction Type Total Number of Transactions Cash $413 50 Debit Card $318 43 Credit Card $0 0 Required Do not enter dollar signs or commas in the input boxes. a) Calculate the total debit/credit card expense for September 10. Total Debit/Credit Card Expense = $8.60 b) Record the journal entry for the day's sales ignoring Cost of Goods Sold.

On November 10, JumpStart provides $2,170 in services to clients. At the time of service, the clients paid $650 in cash and put the balance on account. Required: (a) Journalize this event.* (b) On November 20, JumpStart’s clients paid an additional $560 on their accounts due. Journalize this event.* (c) Calculate the accounts receivable balance on November 30.   *Refer to the Chart of Accounts for exact wording of account titles. CHART OF ACCOUNTSJumpStartGeneral Ledger   ASSETS 11 Cash 12 Accounts Receivable 13 Office Supplies 14 Prepaid Insurance 15 Land 16 Office Equipment 17 Building 18 Truck   LIABILITIES 21 Notes Payable 22 Accounts Payable 23 Unearned Revenue   EQUITY 31 JumpStart, Capital 32 JumpStart, Drawing   REVENUE 41 Fees Earned   EXPENSES 51 Wages Expense 53 Rent Expense 54 Utilities Expense 55 Maintenance Expense 59 Miscellaneous Expense (a) On November 10, JumpStart…

Bolton sold a customer service contract with a price of $37,000 to Sammy's Wholesale Company. Bolton offered terms of 1/10, n/30 and uses the gross method. Required:     Hide     Prepare the journal entry assuming the payment is made after 10 days (after the discount period).               Account and Explanation Debit Credit                   Record collection of accounts receivable

Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 40 percent of their fees in the month the service is provided. In the month following service, Paul collects 50 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent in the month following purchase. Of the supplies Paul purchases, 70 percent is used in the month of purchase, and the remainder is used in the month following purchase. The following information is available for the months of June, July, and August, which are Paul's busiest months: June 1 cash balance $16,700. June 1 supplies on hand $4,500. June 1 accounts receivable $9,400. • June 1 accounts payable $4,400. • Estimated sales for June, July, and August are $28,200, $42,300, and $45,000,…

A man received an invoice for washing machine for $455 dated April 17, with a sales term of 2/10 EOM. How much should he pay if he pay if he pays bill on April 28?

Bank 'n' Roll, Inc. pays its employees once a month and records the expense at the time of payment. On May 31, Bank 'n' Roll, Inc. paid its employees $10,000 for work performed in May. The entry to record the payment includes a (Check all that apply.) Check all that apply. debit to Cash for $10,000 credit to Wages Expense for $10,000 credit to Wages Payable for $10,000 debit to Wages Expense for $10,000 credit to Cash for $10,000