Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A Ltd has been signed contract with XYZ Ltd in Dec19 for Hardware to be delivered worth 1,000,000 and Maintenance for 3 years' worth 3,60,000.
A Ltd has been signed contract with XYZ Ltd in Dec19 for Hardware to be delivered worth 1,000,000 and Maintenance for 3 years' worth 3,60,000. Kit has been delivered on 2 th Jan20 and installation has been done on same day. Please provide answers to below In ref to above Scenario, Due to system issues billing has not been done in Jan20. Please provide the journal Entries for Jan20 Month end in A Ltd books: 1) XYZ Ltd. Revenue Dr. 1360,000 Revenue Cr.1360,000 2) Revenue Accrued Dr. 1000,000 Revenue Cr. 1000,000 3) Revenue Accrued Dr. 1360,000 Revenue Cr. 1360,000 4) None of the above Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Mindful Brand Auditing The New Way To Explore Brand Value
Authors: Kurt Gassner
1st Edition
3987939176, 978-3987939174
