Bright Spark Trading has the following transactions in the last month of its year ending31 December 2022.9 Dec29 Dec31 DecCollected in December 2022, $5,100 for service revenue earned and$500 from customers owing.Received a utility bill of $420 for the month of December 2022. Thebill will be paid next month.$500 of the prepaid insurance paid in September 2022 has expired.31 DecReceived $2,350 cash for future services to be provided to a customer.31 DecOvertime salaries of $1,200 for the last 3 days of the month will be paidin January 2023.Analyse the above and record all necessary entries. Narrations and dates are notrequired.

DateAccountDebitCredit Accounts Receivable 500 Service Revenue 5,100 Cash 5,60029th DecUtilities…

Answered: Bright Spark Trading has the following…

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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