February 25, 2017

Homework Help: Accounting Entry

Posted by Anonymous on Saturday, October 7, 2006 at 4:34pm.

"Received $2000 from a client for financial services to be rendered next year."

I am supposed to record the general journal entry for this. Would it be this:

Cash $2000
A/R $2000

or what? This entry is for the last day of the fiscal year, too. Please help me, thanks :)

The credit should be for some kind of unearned income account. The debit is for cash.

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