eCatalog Services Company performed services in October for a specific customer for a fee of $7,890. Payment was received the following November. (a) Was the revenue earned in October or November?(b) What accounts should be debited and creditedin (1) October and (2) November?
eCatalog Services Company performed services in October for a specific customer for a fee of $7,890. Payment was received the following November. (a) Was the revenue earned in October or November?(b) What accounts should be debited and creditedin (1) October and (2) November?
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter5: Accounting Systems
Section: Chapter Questions
Problem 6E: Global Services Company had the following transactions during the month of August: a. Record the...
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eCatalog Services Company performed services in October for a specific customer for a fee of $7,890. Payment was received the following November.
(a) Was the revenue earned in October or November?
(b) What accounts should be debited and credited
in (1) October and (2) November?
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