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need help please Scienna, Inc, collects cash from customers in advance and from other customers after the sale Read the 2. Journalize Solonna caming service
need help please
Scienna, Inc, collects cash from customers in advance and from other customers after the sale Read the 2. Journalize Solonna caming service revenue of $20,000 on account and then collecting $14,000 an account. (Record debts first, then credits Budude explanations from any oumal entries Start by recording Selena caming $20,000 of service revenue on account Jouml Entry Accounts Date Debit Credit 2010 Next, record the entry to show Selenina colecting 514,000 canh for a portion of the revenue previously carved on accould Joumal Entry Accounts Date Debit Credit 2018 b. Journalize Selenna receiving $5,500 in advance and then earning $4,000 as service revenue. Start by recording Selenna's cash collections in advance of services being performed. Journal Entry Date Accounts Debit Credit 2018 Finally, record the entry to show Selenna earning $4,000 of the service revenue that was collected in advance. Journal Entry Accounts Date Debit Credit 2018 Choose from any list or enter any number in the input fields and then continue to the next question. Requirement Journalize the following transactions for Selenna: a. Accrued revenue. Some customers pay Selenna after Selenna has performed the service for the customer. During 2018, Selenna performed services for $20,000 on account and later received cash of $14,000 on account from these customers. b. Unearned revenue. A few customers pay Selenna in advance, and Selenna later performs the service for the customer. During 2018, Selenna collected $5,500 cash in advance and later earned $4,000 of this amount Step by Step Solution
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