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Unformatted text preview: 17:15 Management signed an agreement to let Boy Scout Troop 538 of :Lewisburg, PY use the campground in June of next year. The agreement specifies that the Boy Scouts will pay a daily rate of $15 per campsite, with a clause providing a minimum total charge of $1,475 dont do anything because its going to happen next year not now Salaries earned by campground that have not yet been paid amount to $1,250 Wages expense $1,250 Accrued wages/salaries payable $1,250 Accrued Only a small portion of the accounting period that falls into that account period As of December 31, Enchanted Forest has earned $2,400 of revenue from current campers who will not be billed until they check out (debit Camper Revenue Receivable) Earned the right to recognize that revenue Accounts Receivable $2,400 Capital Revenue $2,400 Several lakefront campsites are currently being leased on a long-term basis by a group...
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This document was uploaded on 11/04/2011 for the course SPEA-V 246 at Indiana.
- Fall '09