Fees earned credit or debit
WebExpert Answer. A. cash (debit); receivables (credit)Explanation: The following entry will ap …. Which of the following entries records the receipt of cash from clients on account? a. … WebWhich of the following entries records the collection of cash from cash customers? Question 9 options: Fees Earned, debit; Accounts Receivable, credit Accounts Receivable, …
Fees earned credit or debit
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WebJan 29, 2024 · Debit Account receivable. Credit Sales account. Being entries to recognize credit sales. On receipt of cash from the client, the following entries are recorded; Debit Cash account. Credit Account receivable. Being entries to recognize cash received from the client. Hence the right option is c.Cash, debit; Accounts Receivable, credit WebOct 2, 2024 · Before the adjusting entry, Accounts Receivable had a debit balance of $1,000 and Fees Earned had a credit balance of $3,600. These balances were the result of other transactions during the month. When the accrued revenue from the additional unfinished job is added, Accounts Receivable has a debit balance of $3,500 and Fees …
WebWhich of the following entries records the collection of cash from cash customers? Question 9 options: Fees Earned, debit; Accounts Receivable, credit Accounts Receivable, debit; Fees Earned, credit Fees Earned, debit; Cash credit Cash, debit; Fees Earned, credit WebSource: www.ibm.com. As we can see, in 2024 Account Payable for IBM was $6,451 million, while in 2024, it increased to $6,558 million. Though we cannot say how many transactions happened that year, overall, since it …
WebTypical Entries Normal Balance Both debit and credit entries 1. Accounts Payable 2. Cash 3. Dividends 4. Miscellaneous Expense 5. Insurance Expense 6. Fees Earned Credit …
WebCredit where credit is due From debit cards to mobile apps to electronic bank transfers, consumers today are accustomed to using a variety of convenient payment methods. Your clients will expect the same hassle-free options when it’s time to pay their fees. But lawyers accepting credit cards, wire transfers, and ACH transactions must be mindful of the …
WebMar 8, 2024 · What are Fees Earned? Fees earned is a revenue account that appears in the revenue section at the top of the income statement. It contains the fee revenue earned during a reporting period. The amount reported as fees earned would be the amount of cash received from customers during the reporting period, if the reporting entity is … diamond plate trash canWebThe new system has a useful life of 8 years and is projected to produce cash operating savings of$225,000 per year over the old system (reducing labor costs and costs of … diamond plate truck fendersWebMar 2, 2024 · Fees earned is an accounting category that appears in the revenue section of an income statement. It reflects revenue earned through the delivery of services during the time period indicated at the top of the statement. Are fees earned a debit or credit? Fees Earned is a CREDIT balance account. Therefore, it increase with a CREDIT and … cisco 3100 firewall datasheetWebJan 26, 2010 · Study now. See answer (1) Best Answer. Copy. Fees Earned is an Income and whenever an income increases its credited! So that makes it a credit. Wiki User. ∙ … cisco 3500 switch datasheetWebAccounts Receivable, debit; Fees Earned, credit. c. Accounts Receivable, debit; Cash, credit. d. Cash, debit; Accounts Receivable, credit. Account receivable: Account receivable is an asset for the company. Account receivable shows the amount to be received by the company's customers after a specified period. Credit sales are represented by ... cisco 325 router wirelessWebMar 20, 2024 · Last Modified Date: March 20, 2024. Fees earned is an accounting category that appears in the revenue section of an income statement. It reflects revenue earned … diamond plate vehicle wrapWebState for each account whether it is likely to have debit entries only, credit entries only, or both debit and credit entries. Also, indicate its normal balance. Typical Entries Normal Balance Both debit and credit entries 1. Accounts Payable 2. Cash 3. Dividends 4. Miscellaneous Expense 5. Insurance Expense 6. Fees Earned Credit Debit Debit ... cisco 300-425 book