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 & Credit Telephone Expense

Question 2: Completed the series of advertisements for Marsh Tire Company that began July 31 (see below) and billed Marsh Tire Company for the total services performed, including the accured revenue (fees receivable) that had been recognised in an adusting ebtry in July, $800.

The Marsh Tire Company first ad appears on July 31, the last day of the month. The fee of $200 for this advertisement, which has been earned but not recorded.

Confused Student

I forgot to put what I thought was the answer for question 2:

Debit Accounts Receivable $200 & credit advertsing fees earned 200

Quote:

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Originally Posted by Confused Student

Question 1: Received a telephone bill for August, which is to be paid next month, $160.

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Dr. Telephone Expense 160
Cr. AP 160

Quote:

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Originally Posted by Confused Student

Question 2: Completed the series of advertisements for Marsh Tire Company that began July 31 (see below) and billed Marsh Tire Company for the total services performed, including the accured revenue (fees receivable) that had been recognised in an adusting ebtry in July, $800.

The Marsh Tire Company first ad appears on July 31, the last day of the month. The fee of $200 for this advertisment, which has been earned but not recorded.

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Dr. Fees Receivable 200
Cr. Revenue 200