Please do not give solution in image format ? And Fast Answering Please And Explain Proper Step by Step. Required information[The following information applies to the questions displayed below.]Costanza Company experienced the following events and transactions in July.July 1 Received $3,000 cash inadvance of performing work for Vivian Solana.July 6 Received $7,500 cash in advance of performing work for Iris Haru.July 12 Completed the job for Solana.July 18 Received $8,500 cash in advance of performing work for Amina Jordan.July 27 Completed the job for Haru..July 31 None of the work for Jordan has been performed.b. Prepare journal entries (including any adjusting entries as of the July 31 month-end) to record theseevents using the alternative procedure of initially crediting the Services Revenue account when payment isreceived from a customer in advance of performing services.Note: If no entry is required for a transaction/event, select "No journal entry required" in the firstaccount field.

Journal is a book used to record the day to day business transactions of the Business entity.Daily…

b. Prepare journal entries (including any adjusting entries as of the July 31 month-end) to record these events using the alternative procedure of initially crediting the Services Revenue account when payment is received from a customer in advance of performing services. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

b. Prepare journal entries (including any adjusting entries as of the July 31 month-end) to record these events using the alternative procedure of initially crediting the Services Revenue account when payment is received from a customer in advance of performing services. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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