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What is the journal entry for revenue earned during the month included 6000 cash and 5000 on account?
Wiki User
∙ 12y ago
cash debit with 6000 and unearned revenue is 5000 credit and and account payable credit
Wiki User
∙ 12y ago
Wiki User
∙ 9y agodebit cash 6000
debit accounts receivable 5000
credit sales revenue 11000
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What type of account is always debited during the closing process?
Revenue
The journal entry to close the Fees Earnes 100 and rent revenue 25 accounts on December 31 during the closing process would be?
debit accounts receivable 125Credit fee revenue 100credit rent revenue 25
Difference between income and expenditure account and p and l account?
Differences Between Receipts And Payments Account And Income And Expenditure AccountThe following are the main differences between receipts and payments account and income and expenditure account: 1. NatureReceipts and payments account is a summary of cash transactions for a period and it is a real account. Income and expenditure account is a summary of expenditure and income like trading and profit and loss account and it is a nominal account.2. ObjectiveReceipts and payments account is prepared to show cash and bank receipts and payments during the period to derive closing balance of cash and bank. Income and expenditure account is prepared to show the net result of the operation during the period to derive surplus or deficit.3. RecordingAll cash and cheque receipts are recorded on debit side of receipts and payments account where as all cash and bank payments are recorded on credit side. In income and expenditure account all expenditure of revenue nature are recorded on debit side and all incomes of revenue nature are recorded on credit side.4. Capital And Revenue ItemsThere is no distinction between capital and revenue receipts and payments in receipts and payments account. All expenses and incomes of revenue nature are recorded on accrual basis in income and expenditure account.5. ContentsReceipts and payments account contains only cash and bank transactions. Income and expenditure account contains both cash and non-cash expenses and incomes of revenue nature.6. Balance Sheet RequirementReceipts and payments account is not required to prepare balance sheet. Income and expenditure account is required to prepare balance sheet.7. AdjustmentsNo adjustments are required in receipts and payments account. In income and expenditure account adjustments are made because it is prepared on accrual basis.
How do you enter a cash receipts journal?
On June 1, the cash account balance was $17,200. During June, cash payments totaled $178,300, and the June 30 balance was $23,900. Determine the cash receipts during June.
What is reported revenue?
It is a listing of all revenue/expenses incurred by the business during a set period. It shows areas of growth and areas that are lagging within the business.
What would the journal entry if revenue earned by the business during the year?
debit cash / bank / accounts receivablecredit revenue account
What type of account is always debited during the closing process?
Revenue
The journal entry to close the Fees Earnes 100 and rent revenue 25 accounts on December 31 during the closing process would be?
debit accounts receivable 125Credit fee revenue 100credit rent revenue 25
Who are the main characters in the journal of Scott pendleton Collins?
The main characters in "The Journal of Scott Pendleton Collins" are Scott Pendleton Collins, a soldier during World War II, and his unit members in the 101st Airborne Division. The journal follows their experiences and challenges during the war, providing a first-person account of their struggles and triumphs.
What has the author Charles Fellows written?
Charles Fellows has written: 'An account of discoveries in Lycia, being a journal kept during a second excursion in Asia Minor, 1840'
Difference between income and expenditure account and p and l account?
Differences Between Receipts And Payments Account And Income And Expenditure AccountThe following are the main differences between receipts and payments account and income and expenditure account: 1. NatureReceipts and payments account is a summary of cash transactions for a period and it is a real account. Income and expenditure account is a summary of expenditure and income like trading and profit and loss account and it is a nominal account.2. ObjectiveReceipts and payments account is prepared to show cash and bank receipts and payments during the period to derive closing balance of cash and bank. Income and expenditure account is prepared to show the net result of the operation during the period to derive surplus or deficit.3. RecordingAll cash and cheque receipts are recorded on debit side of receipts and payments account where as all cash and bank payments are recorded on credit side. In income and expenditure account all expenditure of revenue nature are recorded on debit side and all incomes of revenue nature are recorded on credit side.4. Capital And Revenue ItemsThere is no distinction between capital and revenue receipts and payments in receipts and payments account. All expenses and incomes of revenue nature are recorded on accrual basis in income and expenditure account.5. ContentsReceipts and payments account contains only cash and bank transactions. Income and expenditure account contains both cash and non-cash expenses and incomes of revenue nature.6. Balance Sheet RequirementReceipts and payments account is not required to prepare balance sheet. Income and expenditure account is required to prepare balance sheet.7. AdjustmentsNo adjustments are required in receipts and payments account. In income and expenditure account adjustments are made because it is prepared on accrual basis.
How do you enter a cash receipts journal?
On June 1, the cash account balance was $17,200. During June, cash payments totaled $178,300, and the June 30 balance was $23,900. Determine the cash receipts during June.
How did Frankenstein's journal get into the creatures hands?
The Creature took a coat of Victor's during the night, and he discovered the journal when he looked into the pocket.
Who kept a journal during The Louisiana Purchase?
John Burlington.
Did Louis Jolliet write a journal?
Yes, Louis Jolliet did write a journal during his explorations in North America. His journal contains detailed accounts of his travels and discoveries, providing valuable insights into the geography and indigenous peoples of the region.
What is a diary or journal with a historical emphasis?
A historical diary or journal is a personal record or account written by an individual during a specific period in history. It provides insights into the daily life, thoughts, and experiences of the author, offering valuable information for understanding the historical context in which they lived. These documents are often used by historians to gain a more personal perspective on events and trends of the time.
What is reported revenue?
It is a listing of all revenue/expenses incurred by the business during a set period. It shows areas of growth and areas that are lagging within the business.
