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hw ch 3 # 4 Arowning inc, colscts cash from customers in advance and from other customen ater the sale. Fead the cequilimest a. Joumafire

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Arowning inc, colscts cash from customers in advance and from other customen ater the sale. Fead the cequilimest a. Joumafire Erowing eaming service revenus of $24,000 on accourt and then colecting 98,000 on acocunt (Record debits firt then credits Exchude explanabions from ary journal entrieis ) Start by recording Birowneng earsing \$24,000 of service revenue on acoount a doumacte Browning earring senice revenue of $24,000 on acoount and then colecting $8,000 on account (Record debits first, than credits. Exclude axplanabions from any joumal ontries ). Start by recording Browning earning $24,000 of sevice revenue on account. Requirement Journalize the following transactons for Browning a. Accrued revenue Some customers pay tlowning afer Browning has portormed the service for the customer. During 2021, Browning performed services for $24,000 on account and lator recelved cash of $8,000 on account from these customers. b. Uneamed revenue. A few oustomers pay Browning in advance, and Browning lator performs the service for the customer. During 2021, Erowning collected $3,000 cash in advance and tater eamed $2,000 of this amount

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