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Revenue account
Accounts Receivable is an asset since it is a resource controlled by the entity as a result of past transaction with the future economic benefit to flow to the entity.Sale of goods and services is a revenue and not accounts receivable.
Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.
debit account receivable credit service revenue
A service revenue that is billed but not paid is an account receivable. Account receivables are assets and therefore you would "debit" the account.
Revenue account
Yes, it is, but accounts receivable is not.
Accounts Receivable is an asset since it is a resource controlled by the entity as a result of past transaction with the future economic benefit to flow to the entity.Sale of goods and services is a revenue and not accounts receivable.
Unearned revenue account is classified as current liability as it is the revenue not yet earned by business.
the debit will be to the accounts receivable because a debit increases it. the offset account in this entry is usually a revenue account. so therefore a credit to revenue.
Sales revenue is a typical one. Dr. A/R Cr. Sales Revenue
Services are sold on account by which, when you receive revenue or income, it will be receivable if the revenue or income are not earned when the services is/or/are already performed
[Debit] accounts receivable [Credit] Sales revenue
debit account receivable credit service revenue
A service revenue that is billed but not paid is an account receivable. Account receivables are assets and therefore you would "debit" the account.
contra account
the formula of calculating account receivable turnover = Net Sales/ average gross receivable