Question

I am having trouble with a journal entry can you help? The transaction reads "Receives $5,820...

I am having trouble with a journal entry can you help?

The transaction reads "Receives $5,820 for services performed" would the journal entries be as follows?

Dr. Cash $5,820

Cr. Accounts Receivables $5,820

Dr. Accounts Receivables $5,820

Cr. Revenue $5,820

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Answer #1
Cash 5,820
Service Revenue 5,820

(to record cash received)

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