Question

A business maintains subsidiary accounts for each of its customers. On May​ 15, the business provides services on​ account: $ 1 comma 600 to customer J. Anthony​ ; $ 4 comma 200 to customer A.​ Martin; and $ 1 comma 500 to customer S. Lee. Which journal entry is needed to record these​ transactions?

Answer 1

Answer:

The journal entry to record this transaction is as follows:

On March 15,

Accounts Receivable − J. Anthony​ A/c Dr. $1,600

Accounts Receivable − A.​ Martin A/c Dr. $4,200

Accounts Receivable −S. Lee A/c Dr. $1,500

             To service revenue                                  $7,300

(To record the accounts receivables)