the exercise give us the trial balance of July 31, & the transactions that occurred in August, which we have to post in journal form.
The problem with the following is that i cannot identify what i have to debit and credit:
a) completed series of designs that began on July 31 and billed for the total design services performed, including the accrued revenues of $800 that had been recognized in an adjusting entry in July, $1,400
From adjusting entries:
b)services performed for which payment had been received in advance totaled $1,300
c) services performed that will not be billed until September totaled $580
thank you
found the ex online:
http://199.236.122.106/forum/forum_posts.asp?TID=9694
The problem with the following is that i cannot identify what i have to debit and credit:
a) completed series of designs that began on July 31 and billed for the total design services performed, including the accrued revenues of $800 that had been recognized in an adjusting entry in July, $1,400
From adjusting entries:
b)services performed for which payment had been received in advance totaled $1,300
c) services performed that will not be billed until September totaled $580
thank you
found the ex online:
http://199.236.122.106/forum/forum_posts.asp?TID=9694