contestada

Following are transactions for valdez services, a company owned by brina valdez.a. brina valdez invests $39,350 cash in the company in exchange for common stock.b. the company provided $2,300 of services on credit.c. the company provided services to a client and immediately received $875 cash.d. the company received $10,200 cash from a client in payment for services to be provided next year.e. the company received $3,500 cash from a client in partial payment of an account receivable. f. the company borrowed $120,000 cash from the bank by signing a promissory note.

Respuesta :

Answer:

CR  Revenue    $2,300

DR Receivable $2,300

CR Revenue    $875

DR Cash          $875

DR Cash          $10,200

CR Prepaid Revenue $10,200

DR Cash  $3500

CR Receivable $3500

Explanation:

Above are the journal entries relating to revenue as far as Valdez services is concerned.

I left out other transactions such as receipt of share payment as well as loan since the requirement specifically asked for revenue related transactions.