Question
On November 1, clients of Carolina Panther Company prepaid $4,250 for services to be provided in the future at a rate of $85 per hour.
On November 1, clients of Carolina Panther Company prepaid $4,250 for services to be provided in the future at a rate of $85 per hour.
(a) Journalize the receipt of cash.
(b) As of November 30, Carolina Panther Co. shows that 15 hours of services have been provided on this agreement. Prepare the necessary journal entry.
(c) Determine the total unearned fees in hours an ddollars at November 30. No entry necessary. Please put answer on this line: __________________________
Date | Account Titles | Debits | Credits |
Step by Step Solution
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Step: 1
1Nov Cash 4250 Unearned service revenue 4250 3...
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Essentials of Business Law and the Legal Environment
Authors: Richard A. Mann, Barry S. Roberts
12th edition
9781305445734, 1305075439, 1305445732, 978-1305075436
