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    Alykat122's Avatar
    Alykat122 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 20, 2006, 02:16 PM
    Journalize transactions
    Recorded services provided on account for the period April 1-12, $4200.00

    Is this correct:

    DR- Accounts receivable
    CR- Unearned fees

    Paid Office station Co. for part of the debt incurred on April 5, $1200.00

    Is this correct:

    DR- Accounts payable
    CR- Cash

    Recorded services provided on account for the period April 13-20 $2100.00

    Is this correct:

    Dr- Fees Earned
    Cr- Accounts receivable

    I would really appreciate it if someone would help me understand this. I have class tonight and I am very confused about these ones. Thank you in advance for the help.

    Thank~
    Alexandra
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

    Feb 20, 2006, 08:53 PM
    Recorded services provided on account for the period April 1-12, $4200.00

    Is this correct:

    DR- Accounts receivable
    CR- Unearned fees


    NO. It sounds like a sale that a customer has pre-paid for already.

    Dr. Unearned Revenue
    Cr. Fees Earned


    Paid Office station Co. for part of the debt incurred on April 5, $1200.00

    Is this correct:

    DR- Accounts payable
    CR- Cash

    YES


    Recorded services provided on account for the period April 13-20 $2100.00

    Is this correct:

    Dr- Fees Earned
    Cr- Accounts receivable


    Same as the first one. So the journal entry should be the same.

    Dr. Unearned Revenue
    Cr. Fees Earned
    em.danielle1144's Avatar
    em.danielle1144 Posts: 12, Reputation: 1
    New Member
    		  
    #3

    Oct 18, 2011, 09:42 PM
    What about recorded cash from cash clients for fees earned during the period Jan 17-24 - $8300

    Dr Cash
    Cr Unearned Fees
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #4

    Oct 21, 2011, 11:04 AM
    Your Credit should be to Earned Fees.

    Unearned means that you received cash in advance for services or goods to be rendered later.
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