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Unformatted text preview: Date General Journal Debit Credit Dec. 31 Remodeling Fees Earned 11,130 Unearned Remodeling Fees 11,130 [The following information applies to the questions displayed below.] Colgate Company experienced the following events and transactions during July. July 1 Received $2,800 cash in advance of performing work for Vivian Solana. 6 Received $8,100 cash in advance of performing work for Iris Haru. 12 Completed the job for Solana. 18 Received $7,300 cash in advance of performing work for Amina Jordan. 27 Completed the job for Haru. 31 None of the work for Jordan has been performed. a. Prepare journal entries (including any adjusting entries as of the end of the month) to record these events using the procedure of initially crediting the Unearned Fees account when payment is received from a customer in advance of performing services. (In cases where no entry is required, please...
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This note was uploaded on 08/09/2010 for the course ACCT 1 taught by Professor Ludwig during the Spring '10 term at Los Angeles City College.
- Spring '10