Question
Permits were obtained from the state for installations in 2016. The permit fees charged by the state and paid in cash were $2000, the fees
Permits were obtained from the state for installations in 2016. The permit fees charged by the state and paid in cash were $2000, the fees charged by Ozark are $500. The $2,500 was charged to customer receivable account.
Hint: The $2,000 is a direct debit to accounts receivable. Only the fee is revenue Neither amount is subject to sales tax.
What is the Journal Entry ?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
The Security Risk Handbook Assess Survey Audit
Authors: Charles Swanson
1st Edition
1032030356, 978-1032030357
