Hi I am having trouble completing my accouitn homework, could you help me please? A11234567891011ATextbook Ref LO 12.2Review the following transactions and prepare any necessary journal entries for Bernard Law Offices.On June 1, Bernard Law Offices receives an advance cash payment of $4,500 from a client for three months of legal services.On July 31, Bernard recognizes legal services provided.DateJun. 1fx Textbook RefJul. 31Account TitleBTo record the advance rec'd from customerTo record the saleCDebitDCreditEFG A112345678910111213141516171819202122232425AComputationsDateSep. 2fx Textbook RefSep. 6Oct. 23Sales RevenueSales TaxTotal CollectionBTextbook Ref LO 12.2Elegant Electronics sells ten cellular phones on September 2 for $450 each. On September 6, Elegant sells another fifteeen cellularphones for $500 each. Sales tax is computed at 3.5% of the total sale. Prepare journal entries for each sale, including sales tax, andthe remittance of all sales tax to the tax board on October 23.Account TitleTo record the sale of 10 cellular phonesTo record the sale of 15 cellular phonesCTo record the remittance of sales taxSale 1DDebitSale 2ECreditFG

When an advance is received from customer, it is treated as a liability, since it is not earned yet.…

Textbook Ref LO 12.2 Review the following transactions and prepare any necessary journal entries for Bernard Law Offices. On June 1, Bernard Law Offices receives an advance cash payment of $4,500 from a client for three months of legal services. On July 31, Bernard recognizes legal services provided. Date Jun. 1 Jul. 31 Account Title To record the advance rec'd from customer To record the sale Debit Credit

Textbook Ref LO 12.2 Review the following transactions and prepare any necessary journal entries for Bernard Law Offices. On June 1, Bernard Law Offices receives an advance cash payment of $4,500 from a client for three months of legal services. On July 31, Bernard recognizes legal services provided. Date Jun. 1 Jul. 31 Account Title To record the advance rec'd from customer To record the sale Debit Credit

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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