nclherbaccount
Mar 16, 2009, 07:02 AM
A client pays you today with a check for services to be preformed over the next 6 months. How do you journalize this entry?
pready
Mar 17, 2009, 02:56 PM
Debit Cash for the amount of the check
Credit Unearned Service Revenue (Liability Account) for the amount of the check.
After the services are provided the journal entry will be:
Debit Unearned Service Revenue for the amount
Credit Service Revenue for the amount