Record performance of the services, Financial Accounting

Robin Corporation accepted credit cards for $34,200 of services performed in October 2011.The credit card company charged a 3% service fee and paid Robin as soon as it received the credit card receipts.

a) Prepare the general journal entry to record performance of the services.

b) Prepare the general journal entry for collection of the receivable from the credit card company.

Posted Date: 3/14/2013 2:15:23 AM | Location : United States





I am unable to solve out this question. Can anyone suggest me how to solve this question.

Posted by | Posted Date: 3/14/2013 2:16:39 AM


Related Discussions:- Record performance of the services, Assignment Help, Ask Question on Record performance of the services, Get Answer, Expert's Help, Record performance of the services Discussions

Write discussion on Record performance of the services
Your posts are moderated
Related Questions
Mr. Wong currently running a small manufacturing business.  The Trial Balance of the business at 31 March 2011 is as follows:

Q. What is primary financial purpose? The primary financial purpose of a company is typically stated to be the maximisation of shareholder wealth and Sassone plc has declared p

i need to prepare a steep analysis report for kathmandu

Completed executions A judgement creditor cannot retain the "benefit" of an execution or attachment, unless he has completed it- Before the date of the receiving order,

Since 1968, Dracula Limited has traded in Doncaster, South Yorkshire as a manufacturer of fancy-dress and theatrical costumes. It produces a wide range of general theatrical costum

Please I need assistance with steps to prepare amalgamation

1a. Explain why it is the case that the value of intermediate goods produced and sold during the year is not included directly as part of GDP, but the value of intermediate goods p

Alta Velocidad Esperanza de L'Argentina, Sociedad Anónima (AVE), a high-speed railway operator domiciled in Rio Norte, Argentina, is a Foreign Private Issuer as defined by the U.S.

Fair value adjustment IFRS 3 requires that goodwill on consolidation should be based on the fair values of the net assets of the subsidiary company on the date of acquisition. T

Q. Explain bonus or capitalisation issues? A rights issue is a approach of raising finance via the issue of shares to existing equity shareholders. Consecutively to make such a