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4 votes
Billed a customer 4500 for work completed to date log as what on t-account

1 Answer

2 votes

Answer:

On t-account, it will be logged as Accounts Receivable $4,500 and Service Revenue $4,500.

Step-by-step explanation:

a) Data and Analysis:

Accounts Receivable $4,500 Service Revenue $4,500

b) The company's assets have been increased by $4,500, and its Equity has been increased by $4,500 (through Service Revenue in Retained Earnings). When the customer pays for the work completed, the Cash account will be debited and the Accounts Receivable credited.

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User Abbotto
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