No | Date | General Journal | Debit | Credit | ||||
1) | 15-Jul | Accounts receivable | 12000 | |||||
Service revenue | 12000 | |||||||
2) | 31-Jul | Accounts receivable | 18000 | |||||
Bonus receivable | 3000 | |||||||
Service revenue | 21000 | |||||||
3) | 5-Aug | Cash | 30000 | |||||
Accounts receivable | 30000 | |||||||
4) | 5-Aug | Service revenue | 3000 | |||||
Bonus receivable | 3000 | |||||||
Explanation: | ||||||||
1) | only revenue recognised for 10 days tour , no bonus recognised as chances | |||||||
are less than 50% | ||||||||
2) | revenue recognised for another 15 days , also bonus recognised for 25 days (10+15) | |||||||
as chances raised to 80% | ||||||||
3) | Basic revenue received | |||||||
4) | Bonus entry reversed | |||||||
Rocky Guide Service provides guided 1-5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires...
Rocky Guide Service provides guided 1-5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells. Rocky receives $2,200 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $220 bonus per tour day it guided during the previous month if its service during that month received an average evaluation of 'excellent' by Wilderness customers. The $2.200 per day and any bonus due are...
Rocky Guide Service provides guided 1-5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells. Rocky receives $1,000 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $100 bonus per tour day it guided during the previous month if its service during that month received an average evaluation of "excellent" by Wilderness customers. The $1,000 per day and any bonus due are...
Rocky Guide Service provides guided 1-5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells. Rocky receives $1,000 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $100 bonus per tour day it guided during the previous month if its service during that month received an average evaluation of "excellent" by Wilderness customers. The $1,000 per day and any bonus due are...
Rocky Guide Service provides guided 1-5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells, Rocky receives $1,400 per tour day, and shortly after the end of each month Rocky leams whether it will receive a $140 bonus per tour day it guided during the previous month if its service during that month received an average evaluation of excellent" by Wilderness customers. The $1,400 per day and any bonus due are...
Rocky Guide Service provides guided 1-5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells. Rocky receives $2700 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $270 bonus per tour day it guided during the previous month if its service during that month received an average evaluation of "excellent" by Wilderness customers. The $2700 per day and any bonus due are...
Rocky Guide Service provides guided 1-5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells. Rocky receives $1,400 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $140 bonus per tour day it guided during the previous month if its service during that month received an average evaluation of "excellent" by Wilderness customers. The $1,400 per day and any bonus due are...
ch Rocky Guide Service provides guided 1-5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells. Rocky receives $2,400 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $240 bonus per tour day it guided during the previous month if its service during that month received an average evaluation of "excellent by Wilderness customers. The $2,400 per day and any bonus due...
Rocky Guide Service provides guided 1-5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells. Rocky receives $1,000 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $100 bonus per tour day it guided during the previous month if its service during that month received an average evaluation of "excellent" by Wilderness customers. The $1,000 per day and any bonus due are...
Rocky Guide Service provides guided 1–5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells. Rocky receives $2,800 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $280 bonus per tour day it guided during the previous month if its service during that month received an average evaluation of "excellent" by Wilderness customers. The $2,800 per day and any bonus due are...
Rocky Guide Service provides guided 1–5 day hiking tours throughout the Rocky Mountains. Wilderness Tours hires Rocky to lead various tours that Wilderness sells. Rocky receives $2,800 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $280 bonus per tour day it guided during the previous month if its service during that month received an average evaluation of "excellent" by Wilderness customers. The $2,800 per day and any bonus due are...