At Ask Me Help Desk you can ask questions in any topic and have them
answered for free by our experts. To ask questions or participate in
answering them you must register for a free account. By registering you
will be able to:
Get free answers from experts in any of our 300+
topics.
Our company entered into a contract on 8/1 to provide services to a law firm for $18,000 for one year. By 12/31, we had received $12,000 in cash and had inadvertently accrued an additional $2000 in revenue. On 12/31, do I debit receivables $4500 or $6500? Or do I debit revenue $4500 or $6500? Or do I credit deferred revenue $4500?
Linear Mode
