Date 21 Journalize the earning of service revenue: $50,000 on account and $37,000 in cash. (Record...

 

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Date 21 Journalize the earning of service revenue: $50,000 on account and $37,000 in cash. (Record debits first, then credits. Explanations are not required.) Journal Entry Eagle Sporting Goods Company Balance Sheet March 31, 2014 ASSETS Current: Cash Accounts receivable Inventories Accounts Other current assets Total current assets Property and equipment, net Thousands 1,200 28,300 35,000 4,500 69,000 6,500 Debit Other assets Credit Total assets: LIABILITIES Total current liabilities Long-term liabilities Total liabilities STOCKHOLDERS' EQUITY Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity S $ 27,000 102,500 53,700 10,700 64,400 24,500 13,600 38,100 102,500 Date 21 Journalize the earning of service revenue: $50,000 on account and $37,000 in cash. (Record debits first, then credits. Explanations are not required.) Journal Entry Eagle Sporting Goods Company Balance Sheet March 31, 2014 ASSETS Current: Cash Accounts receivable Inventories Accounts Other current assets Total current assets Property and equipment, net Thousands 1,200 28,300 35,000 4,500 69,000 6,500 Debit Other assets Credit Total assets: LIABILITIES Total current liabilities Long-term liabilities Total liabilities STOCKHOLDERS' EQUITY Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity S $ 27,000 102,500 53,700 10,700 64,400 24,500 13,600 38,100 102,500

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