No | Date | General Journal | Debit | Credit | ||||
1) | 15-Jul | Accounts receivable | 24000 | |||||
Service revenue | 24000 | |||||||
2) | 31-Jul | Accounts receivable | 36000 | |||||
Bonus receivable | 6000 | |||||||
Service revenue | 42000 | |||||||
3) | 5-Aug | Cash | 60000 | |||||
Accounts receivable | 60000 | |||||||
4) | 5-Aug | Service revenue | 6000 | |||||
Bonus receivable | 6000 | |||||||
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 t...
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 $2,900 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $290 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 $2,900 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 $1,300 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $130 bonus per tour day it quided during the previous month if its service during that month received an average evaluation of excellent" by Wilderness customers. The $1,300 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 $1,800 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $180 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 $1,800 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 $1,200 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $120 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 $1,200 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 $3,000 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $300 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 $3,000 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 $2,100 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $210 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 $2,100 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 $3,000 per tour day, and shortly after the end of each month Rocky learns whether it will receive a $300 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 $3,000 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...