Record adjusting journal entries for each of the following for year ended December 31. Assume no other adjusting entries are made during the year. Accounts Receivable. At year-end, the L. Cole Company has completed services of $25,000 for a client, but the client has not yet been billed for those services. Interest Receivable. At year-end, the company has earned, but not yet recorded, $630 of interest earned from its investments in government bonds. Accounts Receivable. A painting company collects fees when jobs are complete. The work for one customer, whose job was bid at $1,780, has been completed, but the customer has not yet been billed.

Question

Cecilia Everett

Business

22 January, 08:51

Record adjusting journal entries for each of the following for year ended December 31. Assume no other adjusting entries are made during the year. Accounts Receivable. At year-end, the L. Cole Company has completed services of $25,000 for a client, but the client has not yet been billed for those services. Interest Receivable. At year-end, the company has earned, but not yet recorded, $630 of interest earned from its investments in government bonds. Accounts Receivable. A painting company collects fees when jobs are complete. The work for one customer, whose job was bid at $1,780, has been completed, but the customer has not yet been billed.

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Haney · Answer 1

Adjusting journal entries

A.

Account receivable 25000

Service Revenue 25000

B.

Interest Receivable 630

Interest income 630

C.

Progressive bills receivable 1780

Revenue 1780