20 Lecture 3a-ch. 3b

20 Lecture 3a-ch. 3b - 4,000 cr Accounts Receivable (-A)...

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Solutions to exercises for lecture 3a: ch. 3b M3-9 Amount of Revenue Earned in February a. $15,000 b. No revenue earned in February; gift card recorded as unearned revenue until used by customer. c. No revenue earned in February; cash collections in February related to revenues earned in January. d. No revenue earned in February; the revenues will be earned when the golf lessons are provided. Record as unearned revenue. e. $125 M3-11 a. dr Cash (+A) 15,000 cr Lesson Revenue (+R, +SE) 15,000 b. dr Cash (+A) 150 cr Unearned Revenue (+L) 150 c. dr Cash (+A)
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Unformatted text preview: 4,000 cr Accounts Receivable (-A) 4,000 d. dr Cash (+A) 2,250 cr Unearned Revenue (+L) 2,250 e. dr Accounts Receivable (+A) 125 cr Lesson Revenue (+R, +SE) 125 M3-15 a. dr Cash (+A) 4,000 cr Donations Revenue (+R, +SE) 4,000 b. dr Wages Expense (+E, -SE) 2,000 cr Cash (-A) 2,000 M3-15 concluded c. dr Bank Loan (Note) Payable (-L) 1,000 cr Cash (-A) 1,000 d. dr Supplies (+A) 3,000 cr Cash (-A) 1,000 cr Note Payable (+L) 2,000 e. dr Supplies (+A) 2,500 cr Donations Revenue (+R, +SE) 2,500...
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This note was uploaded on 04/23/2011 for the course BUSINESS 20 taught by Professor Samuelson during the Spring '11 term at UC Riverside.

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20 Lecture 3a-ch. 3b - 4,000 cr Accounts Receivable (-A)...

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