Tomi See, CPA, has billed her clients forservices performed. She subsequentlyreceives payments from her clients. Whatentry will Tomi make upon receipt of thepayments?O Debit Accounts Receivable andcredit Service RevenueO Debit Unearned Service Revenueand credit Service RevenueDebit Cash and credit AccountsReceivableO Debit Cash and credit ServiceRevenue

Journal Entry to be passed on receipt of payment against services provided on account Account…

Answered: Tomi See, CPA, has billed her clients…

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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Similar questions

When transferring money from the regular checking account to a special purpose payroll account which of the following accounts would be debited? Cash Wage expense Payroll Cash Net Pay
A credit bureau, AKA credit agencies, are companies that collect credit information about individuals. They then calculate a credit score for each individual based on this information. True False
What notice given to the customer explains that we may report ingormation to the credit bureaus
Does a cash purchase for dental equipment go under cash and notes payable?
Whether a customer uses cash, a check, or a debit card to make a purchase, the company records the transaction as a cash sale. True or False
The Transaction Register displays: O Deposits from vendors. O Payments received from customers. O Sales invoices to customers. O Checks written to vendors.
Which of the following entries records the receipt of cash from patients on account? Accounts Payable, debit; Fees Earned, credit Accounts Receivable, debit; Fees Earned, credit Accounts Receivable, debit; Cash, credit O Cash, debit; Accounts Receivable, credit
Your new company paid the invoice for their account with Alli's Broom Supply Company. What would your journal entry look like when you record this transaction? a) Debit Cash; Credit Accounts Payable b) Debit Cash; Credit Supplies Expense c) Debit Accounts Receivable; Credit Cash d) Debit Accounts Payable; Credit Cash
what happen to the account if the owner pay trade payable using own personal bank?
Describe situations in which you might use a certified check, cashiers check or money order.
Which of the following transaction will be correct in regards to Source document of a Business? a. cash received from customer will be recorded in cash disbursement journal b. Credit Purchase will be recorded in Purchase day book c. Cash paid to supplier will be recorded in a cash receipt journal d. Goods returned to supplier will be recorded in sales journal
Suppose a co-worker has recorded a cash disbursement twice (Supplies Expense was debited twice for $100 and Cash was credited twice for $100) and wants you to record a correcting entry that will reverse the mistake. The correcting entry will record a debit to the Cash account and a credit to the Supplies account. Would you make this correcting entry? What should you investigate before making a decision about the correcting entry? Are there any other steps you would take to address this issue?

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