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QUESTION 14 CHART OF ACCOUNTS 101 Cash 211 Notes Payable 111 Notes Receivable 212 Accounts Payable 112 Accounts Receivable 21
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Answer #1

Billed customers for services rendered.

Due to the given transaction, both the accounts receivable and service revenue will increase.

Increase in assets is debited and thus accounts receivable will be debited.

Increase in revenue is credited and thus service revenue will be credited.

Journal

Date Account title Debit Credit
xx/xx/xx Accounts receivable x
Service revenue x

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