Essay
Lucent Electrical Repair performs services costing $3,000 on January 12 and invoices the customer. Lucent receives the $3,000 on January 31. What entry is made on January 31 when the cash was received?
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q51: A business hired a repairman to overhaul
Q52: Blum Services has the following unadjusted balances
Q76: On August 1,2011,Xcel Auto Repair paid $6,000
Q108: Under cash-basis accounting,an expense is recorded ONLY
Q116: In accounting,the matching principle means to match
Q142: Entries that record cash paid out before
Q144: Hank's Tax Planning Service has a beginning
Q147: Which of the following would be considered
Q151: Prepaid insurance is an asset account.
Q153: Which of the following accounts would NOT