In recording 400 fees earned on account during a single month, how many times will it be necessary to write Fees Earned (a) if each transaction,including fees earned, is recorded individually in a two-column general journal; (b) if each transaction for fees earned is recorded in a revenue journal?

In recording 400 fees earned on account during a single month, how many times will it be necessary to write Fees Earned (a) if each transaction,including fees earned, is recorded individually in a two-column general journal; (b) if each transaction for fees earned is recorded in a revenue journal?

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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In recording 400 fees earned on account during a single month, how many times will it be necessary to write Fees Earned (a) if each transaction,
including fees earned, is recorded individually in a two-column general journal; (b) if each transaction for fees earned is recorded in a revenue journal?

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