Luna Company accepted credit cards in payment for $6,000 of services performed during July 2016. The credit
Question:
Required
a. Prepare the general journal entry to record the service revenue.
b. Prepare the general journal entry for the collection of the receivable from the credit card company.
c. Based on this information alone, what is the amount of net income earned during the month of July?
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a b Event Account Titles Debit Credit a Accounts ...View the full answer
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Related Book For 
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
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