Correcting the Trial Balance: Near the end of the year, AlphaTireceived $2,000 cash in advance from a customer for servicesAtrto be performed in the future, and recorded it as a debit toCash and a credit to Service Revenue. By the end of the year,21Alpha had earned $500 of the cash received in advance. NoAJE was recorded. What corrections, if any, should be made tothe trial balance?Debit Column [ Select ][ Select ]-2,000Credit Column The correct answer is not listed.-2,000 +500 -500+500 -500No entry.

Name: Correcting the Trial Balance: Near the end of the year, AlphaTireceiv
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Description: Correcting the Trial Balance: Near the end of the year, AlphaTireceived $2,000 cash in advance from a customer for servicesAtrto be performed in the future, and recorded it as a debit toCash and a credit to Service Revenue. By the end of the year,21

The adjustment entries are prepared to adjust the revenue and expenses of the current period.

Business

Accounting

Correcting the Trial Balance: Near the end of the year, Alpha received $2,000 cash in advance from a customer for services to be performed in the future, and recorded it as a debit to Cash and a credit to Service Revenue. By the end of the year, Alpha had earned $500 of the cash received in advance. No AJE was recorded. What corrections, if any, should be made to the trial balance? Debit Column [Select] [Select] -2,000 Credit Column The correct answer is not listed. -2,000 +500 -500 +500-500 No entry.

Correcting the Trial Balance: Near the end of the year, Alpha received $2,000 cash in advance from a customer for services to be performed in the future, and recorded it as a debit to Cash and a credit to Service Revenue. By the end of the year, Alpha had earned $500 of the cash received in advance. No AJE was recorded. What corrections, if any, should be made to the trial balance? Debit Column [Select] [Select] -2,000 Credit Column The correct answer is not listed. -2,000 +500 -500 +500-500 No entry.

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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Question Content Area After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $702,763 and Allowance for Doubtful Accounts has a balance of $22,123. What is the net realizable value of the accounts receivable? a. $702,763 b. $680,640 c. $724,886 d. $22,123
Fill out the missing boxes for both charts of accounting correctly please
Subject: accounting
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Journalize the following transactions, using the direct write-off method of accounting for uncollectible receivables. Mar. 17: Received $3,190 from Paula Spitler and wrote off the remainder owed of $5,900 as uncollectible. If an amount box does not require an entry, leave it blank. Mar. 17 fill in the blank e83d81f48fed021_2 fill in the blank e83d81f48fed021_3 fill in the blank e83d81f48fed021_5 fill in the blank e83d81f48fed021_6 fill in the blank e83d81f48fed021_8 fill in the blank e83d81f48fed021_9 July 29: Reinstated the account of Paula Spitler and received $5,900 cash in full payment. July 29 fill in the blank cf28d0043fd3fb7_2 fill in the blank cf28d0043fd3fb7_3 fill in the blank cf28d0043fd3fb7_5 fill in the blank cf28d0043fd3fb7_6 July 29 fill in the blank cf28d0043fd3fb7_8 fill in the blank cf28d0043fd3fb7_9 fill in the blank cf28d0043fd3fb7_11 fill in the blank cf28d0043fd3fb7_12
16. Jim Havey receives an invoice amounting to $2916 with cash terms of 3/10 prox. and dated June 7. If a partial payment of $1666 is made on July 8, find (a) the credit given for the partial payment and (b) the balance due on the invoice. [7.4]
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