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Cornerstone Exercise 3-17 (Algorithmic) Accrued Revenue Adjusting Entries Powers Rental Service had the following items that require adjustment at year end. a. Earned $9,920
Cornerstone Exercise 3-17 (Algorithmic) Accrued Revenue Adjusting Entries Powers Rental Service had the following items that require adjustment at year end. a. Earned $9,920 of revenue from the rental of equipment for which the customer had not yet paid. b. Interest of $650 on a note receivable has been earned but not yet received. Required: Prepare the adjusting entries needed at December 31. Dec. 31 Dec. 31 (Record revenue earned but not yet received) (Record interest earned but not yet received)
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