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Jack Harrison commenced his consulting service business named as Harrison Service Company (Harrienn) on Ianuarv 1 0 The followince were husinese traneactione durino Ianuary 0?
Jack Harrison commenced his consulting service business named as "Harrison Service Company" (Harrienn) on Ianuarv 1 0 The followince were husinese traneactione durino Ianuary 0? Required: a) Prepare general journal entries to record the above transactions (Explanation of each journal entry is NOT required). b) Draw up a T-account for cash and do the posting for the transactions relevant to cash account only. Show the ending balance in the cash account. Part B (6 marks) 1) Explain the concepts of Accounts Receivable and Revenue. 2) What are the differences between Accounts Receivable and Revenue in terms of normal balance? 3) Accounts Receivable and Revenue are recorded on which financial statement(s)
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