A bill for $750 was received and recorded in the next month for legal fees performed in the current month. Create a new liability account as you did earlier in the chapter. Custom painting services recorded on invoice #1003 for $4,500 to Hagen’s toys were never performed even though invoiced. Thus, the revenue had not been earned. Create a new liability account as you did earlier in the chapter.
A bill for $750 was received and recorded in the next month for legal fees performed in the current month. Create a new liability account as you did earlier in the chapter. Custom painting services recorded on invoice #1003 for $4,500 to Hagen’s toys were never performed even though invoiced. Thus, the revenue had not been earned. Create a new liability account as you did earlier in the chapter.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A bill for $750 was received and recorded in the next month for legal fees performed in the current month. Create a new liability account as you did earlier in the chapter.
Custom painting services recorded on invoice #1003 for $4,500 to Hagen’s toys were never performed even though invoiced. Thus, the revenue had not been earned. Create a new liability account as you did earlier in the chapter.
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