Final answer:
To record the acceptance of the note receivable for legal services provided, you would need to make a journal entry by debiting Notes Receivable and crediting Service Revenue.
Step-by-step explanation:
To record the acceptance of the note receivable for legal services provided, you would need to make the following journal entry:
- Debit Notes Receivable
- Credit Service Revenue
This entry increases the Notes Receivable account, representing the amount owed by the client, and recognizes the revenue earned from providing legal services. The corresponding credit to Service Revenue ensures that the company accurately reflects its earnings.