Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5. Total revenues earned were $20,000 $8,000 cash and $12,000 on account. What will be the journal entries? (1 Point) Service Revenue Dr. 20,000 Accounts

image text in transcribed

image text in transcribed

5. Total revenues earned were $20,000 $8,000 cash and $12,000 on account. What will be the journal entries? (1 Point) Service Revenue Dr. 20,000 Accounts Receivable Dr. 12,000 Cash Cr. 8,000 6. June, 2019, trial balance shows Prepaid Insurance of $4,800 in debit side. Insurance premium was paid on June 1, 2019. The insurance policy was for 4 years. What will be the adjusting entry for the month of June, 2019? (1 Point) Prepaid Insurance Dr. $100 Insurance Expense Cr. $100 Prepaid Insurance Cr. $1,200 Prepaid Insurance Cr. $100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting The Ultimate Guide To Accounting Principles

Authors: Greg Shields

1st Edition

1722964839, 978-1722964832

More Books

Students also viewed these Accounting questions

Question

What is the use of bootstrap program?

Answered: 1 week ago

Question

What is a process and process table?

Answered: 1 week ago

Question

What is Industrial Economics and Theory of Firm?

Answered: 1 week ago