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bank interest
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∙ 13y ago
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What would the journal entry be to record an accured revene?
[Debit] Revenue receivable [Credit] Accrued revenue
Is service revenue a revenue account?
Yes, it is, but accounts receivable is not.
Is an account receivable a revenue?
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.
Is accounts receivable a revenue?
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.
Is accounts receivable revenue?
No it's current assets
How calculate accounts receivable turnover ratio?
the formula of calculating account receivable turnover = Net Sales/ average gross receivable
What to debit after increasinf accounts receivable?
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.
What type of account is the rent receivable account?
Revenue account
Prepare general journal entries for the following transactions of this company for the current year?
DateItemDebitCredit25-AprNotes Receivable$4,500Sales$4,50024-JunInterest Receivable$75Interest Revenue$7524-JunAccounts Receivable$4,575Notes Receivable $4,500Interest Receivable$75
What is the Credit account for a Receivable account?
Sales revenue is a typical one. Dr. A/R Cr. Sales Revenue
What is the adjustment for service revenue earned but unbilled total 600?
debit account receivable credit service revenue
How do you jourmalize sales on account?
[Debit] accounts receivable [Credit] Sales revenue
