amaothman
Feb 13, 2008, 04:40 PM
(Grade 12 Accounting)
How would you record the following 6 transactions in a journal entry:
- Under the instalement method of revenue recognition, the 1st year's expense was: $96000
- Record the journal entries at year end to account for the 6 following conditions:
1. Spent $116000, and used $86000
2. Spent $96000, and used $106000
3. Spent $96000, and used $86000
4. Spent $76000, and used $106000
5. Spent $76000, and used $96000
6. Spent $76000, and used $86000
Please help me out. Thank you.
How would you record the following 6 transactions in a journal entry:
- Under the instalement method of revenue recognition, the 1st year's expense was: $96000
- Record the journal entries at year end to account for the 6 following conditions:
1. Spent $116000, and used $86000
2. Spent $96000, and used $106000
3. Spent $96000, and used $86000
4. Spent $76000, and used $106000
5. Spent $76000, and used $96000
6. Spent $76000, and used $86000
Please help me out. Thank you.