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Type: Posts; User: Confused Student
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Did I do this right?
Question:
Accepted an advance in cash for artwork to be done for another agency, $1600
My Journal Entry?
Debit Cash $1600
Credit Prepaid Artowrk $1600
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I forgot to put what I thought was the answer for question 2:
Debit Accounts Receivable $200 & credit advertsing fees earned 200
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I have two more questions I would like you please check for me if you could.
Question 1: Received a telephone bill for August, which is to be paid next month, $160.
DB Accounts Payable &...
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Aslso to note that these questions are asking for adjusted journal entries if that changes anything.
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Here's another one I would like you to please check for me. By the way, thank you for the first answer. The second question reads like this?
On Nov 1, the company signed a contract, effective...
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Question: Sales and delivery wages are paid on Saturday. The weekly payroll for Scotch Cleaners is $1,260. Novemebr 30 falls on a Thursday and the company has a six-day pay week.
So do I Credit...
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