Question
On November 1, clients of Carolina Panther Company prepaid $4,250 for services to be provided in the future at a rate of $85 per hour.
On November 1, clients of Carolina Panther Company prepaid $4,250 for services to be provided in the future at a rate of $85 per hour.
(a) Journalize the receipt of cash.
(b) As of November 30, Carolina Panther Co. shows that 15 hours of services have been provided on this agreement. Prepare the necessary journal entry.
(c) Determine the total unearned fees in hoursanddollarsat November 30. No entry necessary. Please put answer on this line: __________________________
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Auditing And Systems Exam Questions And Explanations
Authors: Ph.D. Gleim, Irvin N., Ph.D. Hillison, William A., Grady M. Irwin
17th Edition
1581949278, 978-1581949278
