Accrued Revenue An electrical company provides services for a new building at a rate of $50 per hour. Once completed, the owner of the building will pay for the total amount of hours worked. By the end of the year, the electrical company has worked 150 hours at the building and expects to finish the project after working an additional 50 hours in the next period.
a. Calculate the accrued revenue the electrical company should record.
b. Journalize the adjusting entry to record the asset

Answer rating: 100% (QA)

a Electrical company spends 150 hours and additional 50 hours for finished the work at t... View the full answer