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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.
Preparation of a bank reconciliation for the month of December. You have received the bank statement for your company's account
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