Record adjusting journal entries for each separate case below for year ended December 31. Assume no other adjusting entries are made during the уear. a. Accounts Receivable. At year-end, the L. Cole Company has completed services of $27,000 for a client, but the client has not yet been billed for those services. b. Interest Receivable. At year-end, the company has earned, but not yet recorded, $710 of interest earned from its investments in government bonds. c. Accounts Receivable. A painting company bills customers when jobs are complete. The work for one job is now complete. The customer has not yet been billed for the $1,940 of work. View transaction list Journal entry worksheet 1 2 3 At year-end, the company has earned, but not yet recorded, $710 of interest earned from its investments in government bonds. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record entry Clear entry View genera
Record adjusting journal entries for each separate case below for year ended December 31. Assume no other adjusting entries are made during the уear. a. Accounts Receivable. At year-end, the L. Cole Company has completed services of $27,000 for a client, but the client has not yet been billed for those services. b. Interest Receivable. At year-end, the company has earned, but not yet recorded, $710 of interest earned from its investments in government bonds. c. Accounts Receivable. A painting company bills customers when jobs are complete. The work for one job is now complete. The customer has not yet been billed for the $1,940 of work. View transaction list Journal entry worksheet 1 2 3 At year-end, the company has earned, but not yet recorded, $710 of interest earned from its investments in government bonds. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record entry Clear entry View genera
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter14: Accounting For Uncollectible Accounts Receivable
Section14.1: Uncollectible Accounts Receivable
Problem 1WT
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Step 1
>Adjusting entries are recorded, as part of completion of accounting cycle. |
>These are made to record adjustments to various Income Statement and Balance Sheet accounts. |
>The adjustments are mainly for: |
--Deferred Revenue adjustment |
--Accrued revenue adjustment |
--Prepaid expenses adjustment |
--Accrued expense adjustments |
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