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Determine accrued revenues adjustments

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Accrued revenues adjustments

Question 1: Record adjusting journal entries for each of the following for year ended December 31. Assume no other adjusting entries are made during the year.

  1. Accounts Receivable. At year-end, the L. Cole Company has completed services of $28,000 for a client, but the client has not yet been billed for those services.
  2. Interest Receivable. At year-end, the company has earned, but not yet recorded, $750 of interest earned from its investments in government bonds.
  3. Accounts Receivable. A painting company collects fees when jobs are complete. The work for one customer, whose job was bid at $2,020, has been completed, but the customer has not yet been billed.

Reference no: EM132494683

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