Record performance of the services, Financial Accounting

Assignment Help:

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.


Related Discussions:- Record performance of the services

Nikki., Trying to calculate earnings per share. Is net income the same as ...

Trying to calculate earnings per share. Is net income the same as earnings before interest and taxes?

Accounting information system, REA diagram for (1) PEGASUS PAPER PRODUCTS a...

REA diagram for (1) PEGASUS PAPER PRODUCTS and (2)PIECES BOUTIQUE

Calculate shares no., Q. Bento, Inc. had 500,000 shares of common stock out...

Q. Bento, Inc. had 500,000 shares of common stock outstanding before a stock split occurred, and 1,500,000 shares outstanding after the stock split. The stock split was a. 2-for-5.

Question, Broadway Scripts is a service-type enterprise in the entertainmen...

Broadway Scripts is a service-type enterprise in the entertainment field, and its manager, Joe Numbers, has only a limited knowledge of accounting. Joe prepared the following balan

Retained earnings, Retained Earnings had a beginning balance of $2,758,000 ...

Retained Earnings had a beginning balance of $2,758,000 and an ending balance of $3,885,700. Total revenues for the year were 3,790,800. During the year 130,300 in dividends were d

Profit is not cash flow, Profit is not cash flow: Adequate cash is esse...

Profit is not cash flow: Adequate cash is essential to keep business running. Inadequate cash increases the risk of not being able to meet current obligations as and when the

Record these transactions in the accounting equation, March and has already...

March and has already accumulated $30,000 in manufacturing costs, Job B and order for 10,000silver medallions, was not started until April. Transactions for these jobs are the foll

Identify the depreciation methods, Identify the Depreciation Methods O...

Identify the Depreciation Methods On January 3, 2005, XYZ Distribution Co. paid $224,000 for a computer system. In addition to the basic purchase price, the company paid a set

Limited liability company, Limited Liability Company (LLC) - Form of doing ...

Limited Liability Company (LLC) - Form of doing business combining limited liability for all owners (known as members) with taxation as a PARTNERSHIP. An LLC is formed by filing AR

3/14/2013 2:16:39 AM

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

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd