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How to prepare journal entries to record three transactions

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Reference no: EM132577822

Suppose you started your own landscaping business. A customer paid you $120 in advance to mow his lawn while he was on vacation. You also performed landscaping services for a local? business, but the business? hasn't paid you the $390 fee yet. In? addition, a customer paid you $130 cash for landscaping services. Answer the following questions about the correct way to account for your revenue under accrual? accounting:

Question 1. Name the accounts used to record these events.

Question 2. Prepare the journal entries to record the three transactions.

Reference no: EM132577822

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