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What is the journal entry for billed customers for services?
The journal entry for billing customers for services involves debiting Accounts Receivable and crediting Service Revenue. For example, if a company bills customers $1,000 for services rendered, the entry would be: Debit Accounts Receivable $1,000 and Credit Service Revenue $1,000. This entry recognizes the revenue earned and the amount owed by customers.
When was Journal of Accounting Research created?
Journal of Accounting Research was created in 1963.
What are the advantages and disadvantages of journal entries in accounting?
what is the disadvantages of general journal
What is Narration in accounting?
A narration is a description of the journal entry.eg:Dr CrBank 1000Electrical Services Revenue 1000(received cash payment for electrical services performed)The last part (in italics) is the narration.
What is the basic summary device of accounting?
account or accounting equation
The journal in which invoices for services provided are recorded is the?
cash receipts journal
When was Journal of Accounting Research created?
Journal of Accounting Research was created in 1963.
What is Journal phase of accounting?
Journal phase of accounting is to journalize the business transaction in Journal as a first record in books of accounts.
What a journal?
A journal is a magazine. Or for accounting it is a ledger book.
Matching in accounting means to make an entry in the journal?
Matching" in accounting means to make an entry in the journal
What are the advantages and disadvantages of journal entries in accounting?
what is the disadvantages of general journal
What are the four special journals in accounting?
Following are four special journals in accounting: 1 - Sales Journal 2 - Purchase journal 3 - Cash receipt journal 4 - Cash payment journal
What is Narration in accounting?
A narration is a description of the journal entry.eg:Dr CrBank 1000Electrical Services Revenue 1000(received cash payment for electrical services performed)The last part (in italics) is the narration.
What is the basic summary device of accounting?
account or accounting equation
What is the principal book of accounting?
Journal Book
Why do you need to reverse a journal entry?
According to my understanding and my study in accounting, the reversal of journal entry merely is for the opening balances for a new year of accounting period
What is the journal entry for a warranty purchased in financial accounting?
In financial accounting, you will need to debit the warranty expense account and credit the accrued warranty liability account. You can also use the account name prepaid expense instead of the warranty expense account.
