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Alykat122
Feb 20, 2006, 02:16 PM
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
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
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
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.