On November 10, JumpStart Co. provides $2,350 in services to clients. At the time of service, the clients paid $590 in cash and put the balance on account.a. Journalize this event. If an amount box does not require an entry, leave it blank.Nov. 10 CashAccounts ReceivableFees EarnedFeedbackT Check My WorkPartially correctb. On November 20, JumpStart Co. clients paid an additional $520 on their accounts due. Journalize this event. If an amount box does not require an entry, leave it blank.Nov. 20FeedbackV Check My WorkIncorrectc. Calculate the accounts receivable balance on November 30.

The journal entries are prepared to keep the record of day to day transactions of the business. Part a., b. JOURNAL Date Particulars Debit Amt Credit amt Nov 10 Cash 590 Accounts receivables 1,760 Fees earned 2,350 (To record service revenue earned) Nov 20 Cash 520 Accounts receivables 520 (To receive cash from Accounts receivables) Part c. Balance in account receivables = 1,760 - 520 = 1,240

Business

Accounting

Nov. 10 Cash Accounts Receivable Fees Earned Feedback Check My Work Partially correct b. On November 20, JumpStart Co. clients paid an additional $520 on their accounts due. Journalize this event. If an amount box does not require an entry, leave it blank. Nov. 20 Feedback Check My Work Incorrect c. Calculate the accounts receivable balance on November 30.

Nov. 10 Cash Accounts Receivable Fees Earned Feedback Check My Work Partially correct b. On November 20, JumpStart Co. clients paid an additional $520 on their accounts due. Journalize this event. If an amount box does not require an entry, leave it blank. Nov. 20 Feedback Check My Work Incorrect c. Calculate the accounts receivable balance on November 30.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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