Asked by Adarsh Shukla on May 20, 2024
Verified
On December 14 Bench Company received $3,700 cash for consulting services that will be performed in January. Bench records all such prepayments in a liability account. Prepare a general journal entry to record the $3,700 cash receipt.
Cash Receipt
Documented acknowledgment of the receipt of cash, typically recorded at the time cash is received from customers or other sources.
- Perceive and implement the primary concepts of adjustment entries in accounting operations.
- Assemble journal entries for adjustments in multiple accounting contexts.
Verified Answer
BR
Learning Objectives
- Perceive and implement the primary concepts of adjustment entries in accounting operations.
- Assemble journal entries for adjustments in multiple accounting contexts.
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