if a company provides services to a customer on credit the company providing the service should...
Homework Answers
Solution:
False, if a company provides services to a customer on credit the company providing the service should debit accounts receivable.
Hence statement hold false.
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if
a company provides services to a customer on credit the company
providing the service should...
On September 8, a company provides services on account to a customer for $1,800, terms 5/10,...
On September 8, a company provides services on account to a customer for $1,800, terms 5/10, 1/30. The customer pays for those services on September 15. Record the transactions for the company when the services are provided on September 8 and when the cash is collected on September 15. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the service revenue on account. Note:...
A company provides maintenance services to customers. The company's policy is to provide services and then...
A company provides maintenance services to customers. The company's policy is to provide services and then bill customers on the 10th of the following month. In December 2021, the company provided services of $14.000 and plans to bill customers on January 10, 2022. What adjusting entry, if any, will the company record on December 31, 2021? Multiple Choice Debit Accounts Receivable and credit Deferred Revenue for $14,000. Debit Accounts Receivable and credit Service Revenue for $14,000. 0 Debit Service Revenue...
GreenLawn Co. provides landscaping services to clients. On May 1, a customer paid GreenLawn $60,000 for...
GreenLawn Co. provides landscaping services to clients. On May 1, a customer paid GreenLawn $60,000 for 6-months services in advance. GreenLawn’s general journal entry to record this transaction will include a: Multiple Choice Debit to Unearned Revenue for $60,000. Credit to Cash for $60,000. Credit to Unearned Revenue for $60,000. Debit to Accounts Receivable for $60,000. Credit to Accounts Receivable for $60,000.
1. On July 1, 2020, a business provides service for a customer and sent them a...
1. On July 1, 2020, a business provides service for a customer and sent them a bill for $10,000. The journal entry to record this transaction includes a debit to____ and a credit to ____. a. cash b. accounts receivable c. revenue d. accounts payable 2. On August 1, 2020 a business receives a cash payment for a customer to pay on the customer's account for $20,000. The journal entry would include a debit to ____and a credit to ____....
. When a business sends a bill for $200 to a customer for services rendered, the...
. When a business sends a bill for $200 to a customer for services rendered, the journal entry to record this transaction will include a $200 credit to Accounts Receivable. True False
On September 8, a company provides services on account to a customer for $1,800, terms 3/10,...
On September 8, a company provides services on account to a customer for $1,800, terms 3/10, n/30. The customer pays for those services on September 15. Record the transactions for the company when the services are provided on September 8 and when the cash is collected on September 15. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the service revenue...
18 On September 8, a company provides services on account to a customer for $1,800, terms...
18 On September 8, a company provides services on account to a customer for $1,800, terms 4/10. n/30. The customer pays for those services on September 15. Record the transactions for the company when the services are provided on September 8 and when the cash is collected on September 15. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field) 7 points View transaction list 02:10:41 Journal entry worksheet < 1...
when a company provides services on account the transaction would be recorded with a credit to...
when a company provides services on account the transaction would be recorded with a credit to cash service reven account payable A/R
17 On August 12, a company provides services on account to a customer for $3.400. However,...
17 On August 12, a company provides services on account to a customer for $3.400. However, on August 16, the customer is not completely satisfied with the service and the company grants an allowance on the amount owed of $420. On August 20, the customer makes full payment of the balance owed, excluding the allowance Record the services provided on August 12, the sales allowance on August 16, and the cash collection on August 20. Of no entry is required...
can you check again MIDTERM Sace Johnson Waterworks Company provides plumbing services. The company is a sole propr...
can you check again
MIDTERM Sace Johnson Waterworks Company provides plumbing services. The company is a sole proprieorship. Transactions uring the first year of operations are provided below a) The owner, Mitchell Johnson, contributed $13.000 cash in exchange for capital b) Paid $1,700 for equipment to be used for plumbing repairs e) Borrowed $10,000 from a local bank and deposted the money in the checking account d) Paid $400 in rent for the year e) Paid $200 for plumbing supplies...
On September 8, a company provides services on account to a customer for $1,800, terms 5/10, 1/30. The customer pays for those services on September 15. Record the transactions for the company when the services are provided on September 8 and when the cash is collected on September 15. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the service revenue on account. Note:...
A company provides maintenance services to customers. The company's policy is to provide services and then bill customers on the 10th of the following month. In December 2021, the company provided services of $14.000 and plans to bill customers on January 10, 2022. What adjusting entry, if any, will the company record on December 31, 2021? Multiple Choice Debit Accounts Receivable and credit Deferred Revenue for $14,000. Debit Accounts Receivable and credit Service Revenue for $14,000. 0 Debit Service Revenue...
On September 8, a company provides services on account to a customer for $1,800, terms 3/10, n/30. The customer pays for those services on September 15. Record the transactions for the company when the services are provided on September 8 and when the cash is collected on September 15. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the service revenue...
18 On September 8, a company provides services on account to a customer for $1,800, terms 4/10. n/30. The customer pays for those services on September 15. Record the transactions for the company when the services are provided on September 8 and when the cash is collected on September 15. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field) 7 points View transaction list 02:10:41 Journal entry worksheet < 1...
17 On August 12, a company provides services on account to a customer for $3.400. However, on August 16, the customer is not completely satisfied with the service and the company grants an allowance on the amount owed of $420. On August 20, the customer makes full payment of the balance owed, excluding the allowance Record the services provided on August 12, the sales allowance on August 16, and the cash collection on August 20. Of no entry is required...
can you check again
MIDTERM Sace Johnson Waterworks Company provides plumbing services. The company is a sole proprieorship. Transactions uring the first year of operations are provided below a) The owner, Mitchell Johnson, contributed $13.000 cash in exchange for capital b) Paid $1,700 for equipment to be used for plumbing repairs e) Borrowed $10,000 from a local bank and deposted the money in the checking account d) Paid $400 in rent for the year e) Paid $200 for plumbing supplies...
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