Accounting : how to T Account and journal entry the following: 3/5 -Angela purchased services to...

Accounting : how to T Account and journal entry the following:

3/5 -Angela purchased services to be provided next month in the amount of $25,000 3/16 Provided 25% of services to Angela Sabath

3/16 Provided 25% of services to Angela Sabath

Expert Solution

Journal entry
Date	Pariculars	Debit	Credit
05-Mar	Cash A/c	25,000.00
	To Advance for service (Angela Sabath)a/c		25,000.00


16-Mar	Advance for service (Angela Sabath)a/c	6,250.00
	To Service income a/c		6,250.00

Advance for service (Angela Sabath) A/c
Date	Particulars	Debit	Date	Particulars	Credit
16-Mar	Service income a/c	6,250.00	05-Mar	Cash	25,000.00

	Balance c/d	18,750.00

		25,000.00			25,000.00



Cash a/c
Date	Particulars	Debit	Date	Particulars	Credit
05-Mar	Advance for service (Angela Sabath) A/c	25,000.00

				Balance c/d	25,000.00

		25,000.00			25,000.00



Service income a/c
Date	Particulars	Debit	Date	Particulars	Credit
			16-Mar	Advance for service (Angela Sabath) A/c	6,250.00

	Balance c/d	6,250.00

		6,250.00			6,250.00

ekkarill92 answered 1 year ago

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