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2 years ago

Billed a customer 4500 for work completed to date log as what on t-account

Business

1 answer:

anygoal [31]2 years ago

5 0

Answer:

On t-account, it will be logged as Accounts Receivable $4,500 and Service Revenue $4,500.

Explanation:

a) Data and Analysis:

Accounts Receivable $4,500 Service Revenue $4,500

b) The company's assets have been increased by $4,500, and its Equity has been increased by $4,500 (through Service Revenue in Retained Earnings). When the customer pays for the work completed, the Cash account will be debited and the Accounts Receivable credited.

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3 years ago

You are considering investing $1,000 in a T-bill that pays 0.05 and a risky portfolio, P, constructed with 2 risky securities, X

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Answer:

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