All categories

3 years ago

Payments from customers received before performing services for the customers are recorded as

Business

1 answer:

Pachacha [2.7K]3 years ago

7 0

Answer:

B) liabilities.

Explanation:

When the payment is received from the customer before performing the services is known as unearned service revenue

The journal entry is

Cash A/c Dr XXXXX

To Unearned Service revenue A/c XXXXX

(Being advance payment is received)

We simply debited the cash account as cash is received and credited the respective account i.e unearned service revenue

You might be interested in

Stella is a volunteer at her church during bingo night. At the end of the night, it is her responsibility to take the evening's

nadya68 [22]

Larceny is the answer i believe

7 0

2 years ago

Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the goods so

Crazy boy [7]

Explanation:

On the books of Shore Co

Cash A/c Dr $111,560

Sales discount A/c $2,240 ($11,2000 x 2%)

To Accounts receivable A/c $113,800 ($112,000 + $1,800)

(Being cash is received)

On the books of Blue star

Accounts payable A/c Dr $113,800 ($112,000 + $1,800)

To Merchandise inventory A/c $2,240 ($11,2000 x 2%)

To Cash A/c $111,560

(Being cash is paid)

8 0

2 years ago

Which is NOT an advantage of a mutual fund?

denpristay [2]

Answer:

I think D. If I'm wrong I'm sorry

7 0

2 years ago

The hawthorne studies found that employees in the experimental group:

aniked [119]

The Hawthorne studies found that employees in the experimental group WERE MORE PRODUCTIVE THAN OTHER EMPLOYEES AND IT DOES NOT DEPEND UPON THE LEVEL OF LIGHTING.

The Hawthorne studies was conducted by Elton Mayo and his colleagues to determine the level of illumination and its relationship with the productivity.

8 0

3 years ago

The brenda one is the question thank youuu:)

Ivenika [448]

Answer:

C. y = 11000(1.086)^7

Explanation:

Given the following data;

Principal = $11,000

Interest rate = 8.6% = 8.6/100 = 0.086

Time = 7 years

To derive a mathematical expression, we would use the compound interest formula;