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Prepare the entry to record the dec receipt of cash from wcu

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On November 1, 2018, Shelby Company contracted with WCU Company to provide consulting services for a rate of $1500/day. At the end of November, Shelby Co. has not yet billed, nor been paid for work done in November.

Problem (a) prepare the entry to record Nov. 1 contract

Problem (b) prepare the entry to record November 30 adjusting entry

Problem (c) On December 23, Shelby Co. received $27,000 from WCU Company for work done in Nov & Dec. Prepare the entry to record the Dec 23 receipt of cash from WCU company.

Reference no: EM132746056

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