Business, 03.03.2020 17:53 saintsfan2004

Journalizing reversing entries

Ocean Breeze Associates accrued $8,500 of Service Revenue on December 31. Ocean Breeze Associates received $14,500 on January 15, including the accrued revenue recorded on December 31.

Requirements

Record the adjusting entry to accrue Service Revenue.
Record the reversing entry.
Journalize the cash receipt.

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Journalizing reversing entries

Ocean Breeze Associates accrued $8,500 of Service Revenue...

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