Question

Kim Wong received $800 in advance for tutoring fees when she agreed to help Joe Pratt with his introductory accounting course. Upon receiving the cash, Kim mentioned that she would have to record the transaction as a liability on her books. Joe asked, “Why a liability? You don’t owe me any money, do you?”

Required
Respond to Joe’s question regarding Wong’s liability.



$1.99
Sales0
Views122
Comments0
  • CreatedOctober 12, 2013
  • Files Included
Post your question
5000