Question: Collected cash for services Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Purchased office furniture on account Account #1 Account Type

Collected cash for services Account #1 Account Type Increase/Decrease Debit/Credit Account

#2 Account Type Increase/Decrease Debit/Credit Purchased office furniture on account Account #1

Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Earned $90,000

Collected cash for services Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Purchased office furniture on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Earned $90,000 by establishing a note receivable with a face value of $120,000. This note has no stated interest. Enter the asset accounts first. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Account #3 Account Type Increase/Decrease Debit/Credit collected $9,000 cash for future services Date Accounts and explanation Debit Credit Nov. 3 Collected $6,000 cash for services Date Accounts and Explanation Debit Credit Nov. 4 Rendered services, for $19,700 half of which was paid by the clients on account. Date Accounts and Explanation Debit Credit Nov. 5 Collected cash for services Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Purchased office furniture on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Earned $90,000 by establishing a note receivable with a face value of $120,000. This note has no stated interest. Enter the asset accounts first. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Account #3 Account Type Increase/Decrease Debit/Credit collected $9,000 cash for future services Date Accounts and explanation Debit Credit Nov. 3 Collected $6,000 cash for services Date Accounts and Explanation Debit Credit Nov. 4 Rendered services, for $19,700 half of which was paid by the clients on account. Date Accounts and Explanation Debit Credit Nov. 5

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

help pls case and if they are DR/CR. List accounts in order they would Collected cash for services Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease...

ME mi Review the transactions and determine the accounts, the account types (use assets; liabilities: owner, capital; owner, withdrawals; revenue; and expenses), if they increase/decrease and if they...

AbbyAbby PrimrosePrimrose recently opened her own law office, which she operates as a sole proprietorship. The name of the new entity is AbbyAbby PrimrosePrimrose, Attorney. PrimrosePrimrose...

Step 2: 2b Activity 2.b. Analyze the Transactions Review the transactions and determine the accounts, the account types (use assets, liabilities, common stock, dividends, revenue, and expenses), if...

Review the transactions and determine the accounts, the account types (use assets; liabilities; owner, capital; owner, withdrawals; revenue; and expenses), if they increase/decrease and if they are...

Your chart should have 30 accounts exactly and include the following: 21 regular control accounts. These accounts should come from each major accounting category (assets, liabilities, equity,...

help:] Paid cash for rent. Account #1 Account Type Increase/Decrease Debit/Credit Increase/Decrease Debit/Credit Account #2 Account Type Purchased office supplies on account Increase/Decrease...

Review the transactions and determine the accounts, the account types (use assets, liabilities, equity, dividends, revenue, and expenses), if they increase/decrease and if they are DR/CR. Check your...

Matthew D. and Melody R. Smith are married and have 3 children. Amy is 5 years old. Amos is 18 and studies at UT (full time student and lives in the dorm). Amberley is 14 and is from Melody's first...

Alkyl benzenes such as toluene (methylbenzene) react with NBS to give products in which bromine substitution has occurred at the position next to the aromatic ring (the benzylic position). Explain,...

6 out of 1 0 Review Later Which of the following statements are correct statements about changes in working capital? A decrease in accounts receivable is considered a cash outflow. An increase in...

last two options for the multiple choice are : performance management development A construction equipment manufacturer, Roswell Corporation, is focusing on becoming a leader in sustainability in...

5. Work Rules. CCH, a Wolters Kluwer company, provides a business owners toolkit through their Tax and Accounting service. CCH is a leading provider of business, legal, and tax information. Locate...

3. What type of evidence are the e-mails received from employees about Gatess on-duty behavior? Should this evidence be considered by the arbitrator? Why or why not? Background On March 30, 2006,...

4. Should the Companys offer to pay back pay and to restore seniority and benefits if Gates is found not guilty be considered by the arbitrator? Why or why not? Background On March 30, 2006, David...