. 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
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. When a business sends a bill for $200 to a customer for services rendered, the...
ntity G rendered $1,400 of services to a customer on account. The journal entry to record this transaction will include a debit to Cash of $1,400. a debit to Service Revenue of $1,400. a debit to Accounts Receivable of $1,400. a credit to Accounts Payable of $1,400.
1) Entity G rendered $1,400 of services to a customer on account. The journal entry to record this transaction will include a credit to Accounts Payable of $1,400. a debit to Service Revenue of $1,400. a debit to Cash of $1,400. a debit to Accounts Receivable of $1,400. 2)
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 ____....
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:...
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.
Suppose a business receives a bill for services rendered from one of its suppliers. The business will pay the supplier next month. When the business receives the bill from its supplier, explain how this affect the accounting equation in terms of increasing or decreasing assets, liabilities, or owner’s equity?
a. Received $10,300 cash for consulting services rendered in January b. Issued common stock to investors for $16,500 cash. c. Purchased $15,300 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $12,100 cash for consulting services to be performed in February e. Bought and received $1,030 of supplies on account. Received utility bill for January for $2,190, due February 15. g. Consulted for customers in January for fees totaling...
Green Lawns Corporation carned $500 for landscaping services rendered. The customer promised to pay at a later time. Which of the following accounts increased as a result of this transaction? O A Cash OB. Accounts Payable OC Accounts Receivable OD. Supplies
If a business receives a payment of $1,000 in June for the services rendered to a customer in May, which of the following is false? Select one: O a. decrease receivable by $1,000 June b. increase revenue by $1,000 in June c. increase revenue by $1,000 May d. increase cash by $1,000 in June O
The journal entry to record fees of $5,000 rendered on account is a Debit to Accounts Payable for $5,000 and a Credit to Fees for $5,000. Select one: True • False