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pashok25 [27]
2 years ago
8

The adjusting entry to record revenue for services the seller has performed but not yet collected requires ______.

Business
2 answers:
Hoochie [10]2 years ago
5 0

The adjusting entry to record revenue for services the seller has performed but not yet collected requires: A debit to Accounts Receivable and credit to Service Revenue.

<h3>Journal entry</h3>

The appropriate journal entry the record revenue for services the seller has rendered but not yet collected will includes debiting account receivable and crediting service revenue.

Adjusting journal entry

Debit Accounts Receivable

Credit  Service Revenue

Inconclusion the adjusting entry to record revenue for services the seller has performed but not yet collected requires: A debit to Accounts Receivable and credit to Service Revenue.

Learn more about journal entry here:brainly.com/question/14279491

Viefleur [7K]2 years ago
4 0

Answer: a debit to accounts receivable and credit to service revenue

Explanation:

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Assume that the market for corn is perfectly competitive. Currently, firms growing corn are generating losses. In the long run,
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Assume that the market for corn is perfectly competitive. Currently, firms growing corn are generating losses. In the long run, we can expect "some firms to exit causing the market price of corn to rise.".

<h3>What is perfectly competitive market?</h3>

According to economic theory, perfect competition exists when all businesses sell the same goods, market share has no bearing on prices, businesses can enter or quit the market without any obstacles, consumers have perfect or complete information, and businesses are unable to set prices.

There are five characteristics that have to exist in order for a market to be considered perfectly competitive. The characteristics are -

  1. homogenous items,
  2. no entry or exit obstacles,
  3. price taker sellers,
  4. transparent products, and
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The three key components of perfect competition are as follows:

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To know more about; Why is perfect competition the best form of market structure?, here

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