QS 3-15 Accrued revenues adjustments P4 For each separate case below, follow the three-step process for adjusting the accrued revenue account at December 31. Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal. Step 3: Record the December 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entries are made during the year. a. Accounts Receivable. At year-end, the II. Cole Company has completed services of $19,000 for a client, but the client has not yet been billed for those services. b. Interest Receivable. At year-end, the company has earned, but not yet recorded, $390 of interest earned from its investments in government bonds. c. Accounts Receivable. A painting company bills customers when jobs are complete. The work for one job is now complete. The customer has not yet been billed for the $1,300 of work.

QS 3-15 Accrued revenues adjustments P4 For each separate case below, follow the threestep process for adiusting the a what the current account balance equals. Step 2: 31 adjusting entry to get from step 1 to step 2. Assume no other adjusting entrics are made during the year. a. Accounts Receivable. At year-end, the II Cole Company has completed services of $19,000 for a client, but the client has not yet been billed for those services. b. Interest Receivable. At yearend, the company has earned, but not yet recorded, $390 of interest earned from its investments in government bonds. c. Accounts Receivable. A painting company bills customers when jobs are complete. The work for one job is now complete. The customer has not yet been billed for the $1,300 of work