On December 1, Wesley Company collected $20,000 for a remodeling job that will be completed on March
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Question:
On December 1, Wesley Company collected $20,000 for a remodeling job that will be completed on March 31 of the following year. The revenue will be earned evenly over four months. Wesley Company’s fiscal period ends December 31.
Make the entries to record the collection of the cash and the year-end adjustment to reflect the amount of revenue earned in December.
Related Book For
Financial And Managerial Accounting The Basis For Business Decisions
ISBN: 9781260247930
19th Edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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