Top Posters
Since Sunday
10
p
4
h
4
c
4
d
3
3
c
3
t
3
u
3
A
3
B
3
j
3
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
H3Ko H3Ko
wrote...
Go to Answer
Posts: 4891
Rep: 45 0
7 years ago
A business maintains subsidiary accounts for each of its customers.  On May 15, the business sells services on account: $2,100 to customer J. Simmons; $4,000 to customer A. Jones; and $1,500 to customer J. Williams.  Which journal entry is needed to record this sales transaction?

A) May 15   Accounts Receivable - J. Simmons   2,100   
   Accounts Receivable - A. Jones   4,000   
   Accounts Receivable - J. Williams   1,500   
        Service Revenue      7,600

B) May 15   Accounts Receivable   7,600   
       Service Revenue      7,600

C) May 15   Service Revenue   7,600   
       Accounts Receivable      7,600

D) May 15   Accounts Receivable Control   7,600   
       Sales Revenue      7,600
         
May 15   Accounts Receivable - J. Simmons   2,100   
   Accounts Receivable - A. Jones   4,000   
   Accounts Receivable - J. Williams   1,500   
        Accounts Receivable - Control      7,600
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
Read 497 times
3 Replies
Replies
Answer verified by a subject expert
Mrgo-breedMrgo-breed
wrote...
#1
Top Poster
Posts: 2227
Rep: 276 0
7 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

H3Ko Author
wrote...
#2
7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
wrote...
#3
7 years ago
I'm liking this Slight Smile
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  875 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 775
  
 400
  
 933
Your Opinion
Which is the best fuel for late night cramming?
Votes: 146
Previous poll results: What's your favorite coffee beverage?