On May 1, a business provided legal services to a client and billed the client $...
Homework Answers
Answer:
Legal services provided for $4000 on account
amount to be paid in 1 month .
Journal entry for the same
Accounts Receivable a/c Dr. 4000
To Service Revenue 4000
(Services provided on account)
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On
May 1, a business provided legal services to a client and billed
the client $...
On May 1, a business provided legal services to a client and billed the dient $3,200...
On May 1, a business provided legal services to a client and billed the dient $3,200 The client promised to pay the business in one month. Which journal entry should the business record on Ma O A. Debit Accounts Receivable for $3,200 and credit Service Revenue for 53.200 O B. Debit Cash for $3,200 and credit Retained Earnings for $3,200. O C. Debit Cash for $3,200 and credit Service Revenue for $3,200. OD. Debit Accounts Payable for $3.200 and credit...
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Trimble Graphic Design receives $1,850 from a client billed in a previous month for services provided....
Trimble Graphic Design receives $1,850 from a client billed in a previous month for services provided. Which of the following general journal entries will Trimble Graphic Design make to record this transaction? During the month of February, Victor Services had cash receipts of $7,700 and cash disbursements of $9,000. T February 28 cash balance was $2,200. What was the February 1 beginning cash balance?
Kailua and Company is a legal services firm. All sales of legal services are billed to...
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Coala sdn bhd (CSB) is legal service firm. All sales of legal services are billed to the client ( there are no cash sales). CSB expects that on average 20% will be paid in the month of billing, 50% will be paid in the month following billing, and 25% will be paid in the second month following billing. For the next five months, the following sales billings are expected: RM May 84,000 June 100,800 July 77,000 August 86, 800...
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Groro Co. bills a client $70,000 for services provided and agrees to accept the following three items in full payment: (1) $30,000 cash, (2) equipment worth $69,000, and (3) to assume responsibility for a $29,000 note payable related to the equipment. (a) Analyze the transaction using the accounting equation. (b) Record the transaction in journal entry form. (c) Post the entry using T-accounts to represent ledger accounts Complete this question by entering your answers in the tabs below. Required A...
Groro Co. bills a client $64,000 for services provided and agrees to accept the following three...
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On May 1, a business provided legal services to a client and billed the dient $3,200 The client promised to pay the business in one month. Which journal entry should the business record on Ma O A. Debit Accounts Receivable for $3,200 and credit Service Revenue for 53.200 O B. Debit Cash for $3,200 and credit Retained Earnings for $3,200. O C. Debit Cash for $3,200 and credit Service Revenue for $3,200. OD. Debit Accounts Payable for $3.200 and credit...
Trimble Graphic Design receives $1,850 from a client billed in a previous month for services provided. Which of the following general journal entries will Trimble Graphic Design make to record this transaction? During the month of February, Victor Services had cash receipts of $7,700 and cash disbursements of $9,000. T February 28 cash balance was $2,200. What was the February 1 beginning cash balance?
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