Question

View transaction list Journal entry worksheet 56 On September 1, WTI agreed to do five courses for a client for $2,400 each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $12,000 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal < Prev 56 of 6 ##

Answer 1

	Question 5
	Transaction	General Journal	Dr	Cr
	1-Sep	Bank A/c	12000
		Unearned Training Fees A/c		12000
		( to record the amount received)
	31-Dec	Unearned Training Fees A/c	4800
		Training Fees Earned A/c		4800
		( to record income for the completed 2 courses)
	Question 6
	Transaction	General Journal	Dr	Cr
	31-Dec	Income receivable A/c	7798
		Income A/c		7798
		(to record income receivable)
	Question 7
	Transaction	General Journal	Dr	Cr
		Salary A/c	400
		Salary Payable A/c		400
		(to record salary expense payable for 2 days)