Ocean Breeze Associates accrued $8,500 of Service Revenue on December 31. Ocean Breeze Associates received $14,500 on January 15, including the accrued revenue recorded on December 31.
Requirements
Record the adjusting entry to accrue Service Revenue.
Record the reversing entry.
Journalize the cash receipt.
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Home » Business » Journalizing reversing entries Ocean Breeze Associates accrued $8,500 of Service Revenue on December 31. Ocean Breeze Associates received $14,500 on January 15, including the accrued revenue recorded on December 31.