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    karim_takla's Avatar
    karim_takla Posts: 8, Reputation: 1
    New Member
    		  
    #1

    Nov 5, 2011, 10:09 AM
    Transaction Journalizing
    Feb. 1 Paid $6,000 for a one-year insurance policy.
    Insurance expense debit 6000/prepaid insurance credit 6000
    Correct?

    Mar. 24 Received $5,000 cash in advance from Denton Company to provide travel services in the near future.
    Cash debit 5000/unearned revenue credit 5000
    Correct?

    Mar. 17 Completed travel services to customers for $12,000 on account.
    Accounts receivable debit 12000/revenue credit 12000
    Correct?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Nov 7, 2011, 07:47 AM
    Feb 1 your Debit will be to Prepaid Insurance and your Credit will be to Cash.

    Your other entries look good.
    karim_takla's Avatar
    karim_takla Posts: 8, Reputation: 1
    New Member
    		  
    #3

    Nov 10, 2011, 02:24 AM
    Thanksss :D
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