Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 4 - Accrual Accounting Concepts - Questions: 15

Answer

The two accounts involved in the adjustment entry are: a) Asset (accounts receivable) b) Revenue (servise revenue)

Work Step by Step

The adjusting entry will affect the accounts as follows:- 1. Accounts receivable - Debit 2. Service revenue - Credit
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.