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Q12SE

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Horngren'S Financial And Managerial Accounting
Found in: Page 160

Short Answer

Question :At the end of June, Gerber Dental had performed $9,000 of dental services but has not yet billed customers. Record the adjusting entry for accrued revenue.

Answer

Date

Account and Explanation

Debit

Credit

Accounts Receivable

$9,000

Service Revenue

$9,000

To record service revenue earned

See the step by step solution

Step by Step Solution

Step 1: Explanation of Adjusting Entries

Adjusting entries are the year-end entries used to record accrued revenues and expenses.

Step 2: Explanation of Accrued Revenues

Accrued revenues refer to the earned revenue, but the payment is not received in cash.

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