FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A lawyer collected $ 9 3 0 of legal fees in advance. He erroneously debited Cash for $ 3 9 0 and credited Accounts Receivable

A lawyer collected $930 of legal fees in advance. He erroneously debited Cash for $390 and credited Accounts Receivable for $390. The correcting entry is
Cash
Accounts Receivable
Cash
Service Revenue
Cash
Accounts Receivable
Unearned Service
Revenue
Cash
Accounts Receivable
Unearned Service
Revenue
540
930
930
image text in transcribed

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

Introductory Accounting Finance And Auditing For Lawyers

Introductory Accounting Finance And Auditing For Lawyers

Authors: Lawrence Cunningham

7th Edition

1634604105, 9781634604109

More Books

Students also viewed these Accounting questions

Question

★★★★★
Hog Wild is a retail firm that sells motorcycles, parts, and accessories. The adjusted trial balance data given below is from the firms worksheet for the year ended December 31, 2016. INSTRUCTIONS 1....

Answered: 1 week ago

Question

★★★★★
In Java, please help!!! 3.11. (Modified Account Class) Modify class Account (Fig. 3.8) to provide a method called with- draw that withdraws money from an Account. Ensure that the withdrawal amount...

Answered: 1 week ago

Question

★★★★★
Is all the necessary information included? (332)

Answered: 1 week ago

Question

★★★★★
The AMS technical services team has embarked on a quality improvement effort. Its first project relates to maintaining the target upload speed for its Internet service subscribers. Upload speeds are...

Answered: 1 week ago

Question

★★★★★
Homework - Chapter 2 2 Production budget Healthy Habits Inc. produces a Bath version and a Gym version of its popular electronic scale. The anticipated unit sales for the scales by sales region are...

Answered: 1 week ago

Question

★★★★★
Based on the course readings and speaking as the employer, what is the value to the employer of having the following in the CBA? (If you feel strongly to the contrary you may address the...

Answered: 1 week ago

Question

★★★★★
In "Young Goodman Brown," why does young goodman Brown first venture into the woods? Da He needs to get some firewood. Ob He promised someone he would meet him there. PO Od He forgot a present for...

Answered: 1 week ago

Question

★★★★★
You are given the following information. Asset E[ri] o[ri] Rabbit Tech shares 14% 20% Turtle Industrial shares 4% 6% Risk-free asset 5% Given that Turtle has an expected return less than the...

Answered: 1 week ago

Question

★★★★★
Show that the given integral is independent of the path. Evaluate. (2,1,1) (1,0,0) 3z (2x sin ye32)dx + x cos y dy + (3x ez + 5)dz

Answered: 1 week ago

Question

★★★★★
Transition Functions and Relations F2. Why is the (major) difference between function and relation interesting as related to classifying

Answered: 1 week ago

Question

★★★★★
George Kyparisis owns a company that manufactures sailboats. Actual demand for Georges sailboats during each of the past four seasons was as follows: Season 1 2 3 4 Winter 1,400 1,280 1,040 900...

Answered: 1 week ago

Previous Question Next Question