A) Conan Industries collected $100,000 from customers in 2019. Ofthe amount collected,$25,000 was from revenue earned on account in 2018. In addition, Conan earned $40,000 ofrevenue in 2019, which will not be collected until 2020. Instructions: prepare adjusting entries and post revenues in ledger in 31\12\2019

A) Conan Industries collected $100,000 from customers in 2019. Ofthe amount collected,$25,000 was from revenue earned on account in 2018. In addition, Conan earned $40,000 ofrevenue in 2019, which will not be collected until 2020. Instructions: prepare adjusting entries and post revenues in ledger in 31\12\2019

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 6MC: Prior to adjustments, Barrett Companys account balances at December 31, 2019, for Accounts...

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