Enter all the stuff in the journal Record adjusting journal entries for each separate casebelow for year ended December 31.Assume no other adjusting entries are made during theуeara. Accounts Receivable. At year-end, the L. Cole Companyhas completed services of $25,000 for a client, but theclient has not yet been billed for those services.b. Interest Receivable. At year-end, the company hasearned, but not yet recorded, $630 of interest earnedfrom its investments in government bonds.. Accounts Receivable. A painting company billscustomers when jobs are complete. The work for onejob is now complete. The customer has not yet beenbilled for the $1,780 of work.View transaction listJournal entry worksheet2At year-end, the L. Cole Company has completed services of $25,000 for aclient, but the client has not yet been billed for those services.Note: Enter debits before credits.TransactionGeneral JournalDebitCredita.Record entryClear entryView general

Answered: ecord adjusting journal entries for…

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter14: Accounting For Uncollectible Accounts Receivable

Section14.1: Uncollectible Accounts Receivable

Problem 1WT

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Enter all the stuff in the journal

Record adjusting journal entries for each separate case
below for year ended December 31.
Assume no other adjusting entries are made during the
уear
a. Accounts Receivable. At year-end, the L. Cole Company
has completed services of $25,000 for a client, but the
client has not yet been billed for those services.
b. Interest Receivable. At year-end, the company has
earned, but not yet recorded, $630 of interest earned
from its investments in government bonds.
. Accounts Receivable. A painting company bills
customers when jobs are complete. The work for one
job is now complete. The customer has not yet been
billed for the $1,780 of work.
View transaction list
Journal entry worksheet
2
At year-end, the L. Cole Company has completed services of $25,000 for a
client, but the client has not yet been billed for those services.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
a.
Record entry
Clear entry
View general

Expert Solution

Step 1

To keep track of financial transactions, journal entries are used. To create a journal entry, you enter transaction data into your company's books. Your journal entries are entered into to the general ledger in the second step of the accounting cycle. Every general ledger journal entry will include the transaction date, amount, affected accounts with account information, and a description. A reference number, such as a check number, and a short explanation of the transaction may also be included in the journal entry.

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