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Bryson, Inc., collects cash from customers in advance and from other customers after the sale. Read the requirement a. Journalize Bryson earning service revenue of

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Bryson, Inc., collects cash from customers in advance and from other customers after the sale. Read the requirement a. Journalize Bryson earning service revenue of $25,000 on account and then collecting $12,000 on account. (Record debits first, then credits. Exclude explanations from any journal entries.) Start by recording Bryson earning $25,000 of service revenue on account. Journl Entry Requirement Date Accounts Debit Credit 2018 Journalize the following transactions for Bryson: a. Accrued revenue. Some customers pay Bryson after Bryson has performed the service for the customer. During 2018, Bryson performed services for $25,000 on account and later received cash of $12,000 on account from these customers. b. Unearned revenue. A few customers pay Bryson in advance, and Bryson later performs the service for the customer. During 2018, Bryson collected $2,000 cash in advance and later earned $500 of this amount. Print Done

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