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20 April, 23:00

Chimney Sweeps provided chimney cleaning services to several clients during the month of February. Chimney's customers have not yet been billed. Chimney's customers owe $2,000 to Chimney. How will Chimney Sweeps record this transaction? O Debit accounts receivable and credit cash O Debit cash and credit services revenue O Debit accounts receivable and credit services revenue

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Answers (1)
  1. 21 April, 01:04
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    O Debit accounts receivable and credit services revenue

    Explanation:

    Services has been performed by Chimney Sweeps and they have not been paid yet. So, the $200 is receivable from customer.

    Chimney Sweeps record this transaction by following journal entry:

    Debit Credit

    Accounts Receivable $2,000

    Services Revenue $2,000

    So the correct answer is O Debit accounts receivable and credit services revenue.
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Home » Business » Chimney Sweeps provided chimney cleaning services to several clients during the month of February. Chimney's customers have not yet been billed. Chimney's customers owe $2,000 to Chimney.
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