What would washington report for service revenue

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Reference no: EM13140329

Jarrett Company issued 600 shares of no-par common stock for $8,800. Which of the following journal entries would be made if the stock has no stated value? Washington Co. began operations on January 1, 2011, by issuing $10,000 in common stock to the stockholders. On April 1, 2011, Link accepted an advance of $18,000 to provide services for a one-year period beginning April 1. During 2011, services in the amount of $16,000 were provided to customers on account, and 75% of this amount was collected by year-end. During 2011, expenses incurred on account were $12,000, and 60% of this amount was paid by year-end. During the year, Washington paid $600 to purchase supplies. By year-end, $480 of the supplies had been used. Dividends to stockholders were $1,000 during the year. During 2011, Washington paid salaries of $14,000, and on December 31, 2011, the company accrued salaries of $1,200.
Required:
1) What would Washington report for service revenue for 2011?

Reference no: EM13140329

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