Question

Examine the following transactions and identify those that create revenues for Jade Services, a company owned by Mia Jade. Prepare general journal entries to record those revenue transactions and explain why the other transactions did not create revenues.
a. Mia Jade invests $38,250 cash in the company.
b. The company provided $1,350 of services on credit.
c. The company provided services to a client and immediately received $1,575 cash.
d. The company received $9,150 cash from a client in payment for services to be provided next year.
e. The company received $4,500 cash from a client in partial payment of an account receivable.
f. The company borrowed $150,000 cash from the bank by signing a promissory note.



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  • CreatedDecember 27, 2012
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