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On December 31, the company prepared an adjusting entry for services revenue earned, but not yet received in the amount of $11,800. In the
On December 31, the company prepared an adjusting entry for services revenue earned, but not yet received in the amount of $11,800. In the following year on February 2, the client paid $25,500. The $25,500 consisted of revenue earned in the new year along with that earned in the prior year. Prepare entries for the following: a. December 31 adjusting entry. b. January 1 reversing entry. c. February 2 cash receipt entry. View transaction list Journal entry worksheet 1 2 3 Record the December 31 adjusting entry for services revenue earned, but not yet received. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal
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