Adjusting Entries Practice Problem Recording Accrued Revenues Solution

 

Required:	Write the adjusting journal entry for the month ended September 30 based on the following information:
	Cleaning service orders completed but not recorded or billed equaled $475.
Solution:	Purpose: To recognize accrued revenues for cleaning services that have been performed but have not yet been billed to customers.
	Accounts:	Balance Sheet:         Accounts Receivable
		Income statement:   Cleaning Service Revenue
	Calculation:	The amount is given in the information about this adjusting entry.

	Date	Account Titles	Debits	Credits
	Sept. 30	Accounts Receivable	$475
		Cleaning Service Revenue		475
		To recognize revenues unrecord at month-end.

 

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