Solved:
Answered by AI, Verified by Human Experts
On October 22, a company provides services on account to a customer for $2700, terms 2/14, n/30. The customer pays for those services on December 19 Record the transactions for the company when the services are provided on October 22 and when cash is collected on December 19. fif no entry is required for a particular transaction/event, select No Journal Entry Required in the first account feld) View transaction lit Journal entry worksheet Record the service revenue on account. inte det before General Journal Date Odk 22 Datit Credit entry Ciwy On October 22, a company provides services on account to a customer for $2,700, terms 2/4, n/30. The customer pays for those services on December 19 Record the transactions for the company when the services are provided on October 22 and when cash is collected on December 19 fit no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account feld) View transaction lit Journal entry worksheet 1 2 Record the cash collected General Journal Debit Credit DE Ready
On October 22, a company provides services on account to a customer for $2700, terms 2/14, n/30. The customer pays for those services on December 19 Record the transactions for the company when the services are provided on October 22 and when cash is collected on December 19. fif no entry is required for a particular transaction/event, select No Journal Entry Required in the first account feld) View transaction lit Journal entry worksheet Record the service revenue on account. inte det before General Journal Date Odk 22 Datit Credit entry Ciwy On October 22, a company provides services on account to a customer for $2,700, terms 2/4, n/30. The customer pays for those services on December 19 Record the transactions for the company when the services are provided on October 22 and when cash is collected on December 19 fit no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account feld) View transaction lit Journal entry worksheet 1 2 Record the cash collected General Journal Debit Credit DE Ready
Thejournal entriesfor the transactions:October 22* Debit Accounts Receivable $2,700* Credit Service Revenue $2,700December 19* Debit Cash $2,640* Credit Accounts Receivable $2,640* Credit Sales Discount $60What is theJournal entryOn October 22, thecompanyprovides services on account to a customer for $2,700 with terms 2/14, n/30. This means the customer gets a 2% discount if they pay within 14 days; otherwise, they should pay the full amount within 30 days.You debit Cash because you receivedpayment, and you credit Accounts Receivable to reduce the amount the customer owes. The $54 discount is calculated as 2% of the original amount ($2,700 * 2% = $54).Learn more aboutJournal entryfrombrainly.com/question/28390337#SPJ4...