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Please Help!!! Can you show me step by step how to do this? M3-11 Recording Accrual Basis Revenues [LO 3-3] The following transactions are February
Please Help!!! Can you show me step by step how to do this?
M3-11 Recording Accrual Basis Revenues [LO 3-3]
The following transactions are February activities of Swing Hard Incorporated, which offers indoor golfing lessons in the northeastern United States. |
a. | Swing Hard collected $15,000 from customers for lesson services given in February. |
b. | Swing Hard sold a gift card for golf lessons for $150 cash in February. |
c. | Swing Hard received $4,000 from services provided on account to customers in January. |
d. | Swing Hard collected $2,250 in advance payments for services to start in June. |
e. | Swing Hard bills a customer $125 for services provided between February 25 and February 28. The bill is to be paid in March. |
Prepare journal entries to record the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) |
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