A cleaning company generally charges $230 for a detailed cleaning of a normal-size home. However, to...
A cleaning company generally charges $230 for a detailed cleaning of a normal-size home. However, to generate additional business, the cleaning company is offering a new-customer discount of 10%. On May 1, an individual has the cleaning company clean her house and pays cash equal to the discounted price. Required: Record the revenue recognized by the cleaning company on May 1. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
- Record the revenue recognized for the services provided with a 10% trade discount.
Homework Answers
Solution:
| Journal Entries | |||
| Date | Particulars | Debit | Credit |
| 1-May | Cash Dr | $207.00 | |
| To Cleaning service revenue | $207.00 | ||
| (To record service revenue) | |||
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