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
1) The detailed information is on the second tab marked "Financials". Enter summarized Balance Sheet and Income Statement information for Cummins into the template on the "Summary


2(i). If all depositors tried to convert their deposits into cash at once, they would find that there are not sufficient reserves in the system to permit all of them to do this at

What information goes on each sheet of an Articulationof statements, i.e. the Data Entry sheet, the Trial Balance sheet, the Single step Income statement, multi-step income stateme

Stock A has an expected return of 9 percent, a standard deviation of 20 percent, and a market beta of 0.5. Stock B has an expected rate of return of 10 percent, a standard deviatio


Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended: Materials and supplies used Brass

Illustrations of Income statement Profit/Loss on disposal of non-current assets Material write down or reversal of write down on assets e.g. PPE inventory and debtors.

unit selling price of products= $40 unit variable expense of product= $24 Total fixed expenses= 560,000 avg op assets= 3,000,000 1)how many units must the division sell each yea

Question 1 Suppose you take out a loan of $10,000, repayable by five equal annual instalments. The interest rate is 10% per year. (a) How much do you need to repay per year