Ask Question
BusinessBusiness
22 July, 15:40

Like A Wrecking Ball is a demolition company. At the end of a project, they presented their client with an invoice for $18,000 and immediately received a check for the full amount. What is the journal entry to record this receipt?

+4
Answers (1)
  1. 22 July, 18:51
    0
    The journal entry is shown below:

    Cash A/c $18,000

    To Service revenue A/c $18,000

    (Being the receipt is recorded)

    For recording this transaction, we debited the cash account as cash is received and credited the service revenue as service is provided. These both transactions are recorded for $18,000 so that correct posting could be done.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Like A Wrecking Ball is a demolition company. At the end of a project, they presented their client with an invoice for $18,000 and ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Which of the following marketing variables is concerned with design, quality, and packaging? A. Product B. Promotion C. Place D. Price
Answers (1)
What decisions did spanish rulers make that weakened spain's economy?
Answers (1)
Define the "tour operator" tourism company
Answers (1)
On January 1, 2021, Julee Enterprises borrows $39,000 to purchase a new Toyota Highlander by agreeing to a 6%, 4-year note with the bank. Payments of $915.92 are due at the end of each month with the first installment due on January 31, 2021.
Answers (1)
Cruz Gray Inc. positions its beauty and skin care products as the only products in the market that are 100 percent natural and are not tested on animals. This gives the company a significant advantage over its competitors.
Answers (1)
New Questions in Business
Stefan is having discussions with customers, product enthusiasts, and other people who engage in online discussions. Which informal process to gather insights and guide his research efforts is he engaged in? A. Asking his supervisor for input B.
Answers (1)
Perine Company has 5,460 pounds of raw materials in its December 31, 2019, ending inventory. Required production for January and February of 2020 are 4,200 and 6,000 units, respectively.
Answers (1)
Which of the following are true? a. Ideally, we should use book values in the WACC. b. Book values are often similar to market values for equity. c. Ideally, we should use market values in the WACC. d.
Answers (1)
Au Sable Corporation reported taxable income of $800,000 in 20X3 and paid federal income taxes of $272,000.
Answers (1)
You are deciding between two mutually exclusive investment opportunities. Both require the same initial investment of $ 10 million. Investment A will generate $ 2.4 million per year (starting at the end of the first year) in perpetuity.
Answers (1)
Home » Business » Like A Wrecking Ball is a demolition company. At the end of a project, they presented their client with an invoice for $18,000 and immediately received a check for the full amount. What is the journal entry to record this receipt?
Sign Up Forgot Password?