Question:

How do I post the Unearned Revenue?

by  |  earlier

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The following error was made in journalizing and posting transactions in May in the Tyler Company.

The receipt of $800 from a customer for future service was recorded as a debit to Accounts Receivable $800 and a credit to Service Revenue $800.

Instructions

Select the correct entry to be prepare for the correcting entries on May 31 assume the incorrect entry was not reversed.

a.

Service Revenue 800

Unearned Revenue 800

b. Cash 800

Unearned Revenue 800

Service Revenue 800

Accounts Receivable 800

c. Cash 800

Accounts Receivable 800

Unearned Revenue 800

Service Revenue 800

d. Cash 800

Service Revenue 800

Accounts Receivable 800

Unearned Revenue 800

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1 ANSWERS


  1. You forgot to specify which is a debit & which a credit in each of b-d above (so they are all the same :-) )

    I suggest you check your course notes (there is a difference :-) )

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