10. Accrued Revenue A law firm allows its clients to pay on the tenth of...
50.1K
Verified Solution
Link Copied!
Question
Accounting
10. Accrued Revenue A law firm allows its clients to pay on the tenth of every month for services rendered rather than for each visit. Since the last billing cycle, the law firm provided 200 hours of services at $80 per hour.
a. Find the amount of accrued revenue the law firm should record at the end of the year.
b. Journalize the adjusting entry to record the asset for the accrued revenue
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.