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Shown as follows are selected transactions of the architectural firm of Munson, Chang, and Alverez, Incorporated: April 5 Prepared building plans for Biltmore Construction Company.
Shown as follows are selected transactions of the architectural firm of Munson, Chang, and Alverez, Incorporated: April 5 Prepared building plans for Biltmore Construction Company. Sent Biltmore an invoice for $27,000 requesting payment within 30 days. (The appropriate revenue account is entitled Drafting Fees Earned.) May 17 Declared and paid a $32,000 cash dividend. May 29 Received a $5,800 bill from Dave Jensen, CPA, for accounting services performed during May. Payment is due by June 10. (The appropriate expense account is entitled Professional Expenses.) June 4 Received full payment from Biltmore Construction Company for the invoice sent on April 5. June 10 Paid Dave Jensen, CPA, for the bill received on May 29
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