service revenue earned but unrecorded at june 30 totals RM2000
To record service revenue earned but unrecorded at June 30 totaling RM2000, you would need to journalize the entry. Here's how you can do it:
1. Identify the accounts involved: In this case, we are looking at service revenue, which is an income account.
2. Determine the type of entry: Since the service revenue has been earned but not yet recorded, we need to recognize the revenue by making an adjusting entry.
3. Create the journal entry: To record the unrecorded service revenue of RM2000, you would make the following journal entry:
Debit: Service Revenue RM2000
Credit: Unearned Service Revenue RM2000
This entry debits the Service Revenue account, increasing the amount by RM2000, to recognize the revenue that was earned. It also credits the Unearned Service Revenue account, reducing the liability by RM2000, as the revenue was previously unearned.
4. Post the entry: After creating the journal entry, you need to post it to the corresponding general ledger accounts. In this case, you would debit the Service Revenue account and credit the Unearned Service Revenue account.
By following these steps, you can record the unrecorded service revenue of RM2000 at June 30th.