93.3k views
3 votes
Mcdever corporation bills a customer $5,100 at the end of the year for services provided. the adjusting entry mcdever should make to accrue the amount collectible is:

1 Answer

6 votes

Answer:

Debit Accounts receivable $5,100

Credit Sales/Revenue $5,100

Step-by-step explanation:

The amount billed to a customer for a service rendered or good sold is known as the revenue.

When revenue is earned and cash is received, the accounts involved are sales/revenue account and the cash account otherwise, where revenue is earned but cash is yet to be collected, the accounts involved would be sales/revenue account and the accounts receivable.

Where Mcdever corporation bills a customer $5,100 at the end of the year for services provided. the adjusting entry mcdever should make to accrue the amount collectible is;

Debit Accounts receivable $5,100

Credit Sales/Revenue $5,100

User Keparo
by
5.7k points