Bennington, Inc., collects cash from customers in advance and from other customers after the sale.

Read the requirement.

a$.$ Journalize Bennington earning service revenue of $$19,000$ on account and then collecting $$13,000$ on account. $($Record debits first, then credits. Exclude explanations from any journal entries.$)$

Start by recording Bennington earning $$19,000$ of service revenue on account.

JournI Entry

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[2021,$Accounts Receivable,$19000,],[,$Service Revenue,,$],[,$Cash,$13000,],[,$Accounts Receivable,,$],[,,,],[,,,]]$

Requirement

Journalize the following transactions for Bennington;

a$.$ Accrued revenue. Some customers pay Bennington after Bennington has performed the service for the customer. During $2021,$ Bennington performed services for $$19,000$ on account and later received cash of $$13,000$ on account from these customers.

b$.$ Unearned revenue. A few customers pay Bennington in advance, and Bennington later performs the service for the customer. During $2021,$ Bennington collected $$5,500$ cash in advance and later earned $$500$ of this amount.