Which of the following journal entries would be recorded if a business renders service and receives cash of OR400 from the customer? Select one: O a. Cash 400 Service revenue 400 O b. Service revenue 400 Cash 400 O c. Service revenue 400 Accounts payable 400 O d. Service revenue 400 Accounts receivable 400

Q: General Ledger Accounts Set up T accounts for each of the general ledger accounts needed for the…

A:

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A: Performance of service for a customer and bills the customer is a revenue recognition transaction.

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Q: Choose the Debit and Credit Accounts of the following transactions.

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Q: Write the type of journal to be used for each of the following transactions: (general journal, sales…

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A: Cash May-12 1340     May-15 2120

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Q: Consider the recorded transactions below. Debit Credit 1. Accounts Receivable 7,800 Service Revenue…

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Q: Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following entries…

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Q: Q1. Record each of the above transactions in general journal including the explantion/narration. Use…

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Q: Which business transactions would result in the following journal entry Dr Accounts Payable Cr Cash.…

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Q: Given the following list of accounts with normal balances, what are the trial balance totals of the…

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is