if houston company billed a client for $13,000 of consulting work completed, the accounts receivable asset increases by $13,000 and:

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09-12-2022
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if houston company billed a client for $13,000 of consulting work completed, the accounts receivable asset increases by $13,000 and:

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contexto38 contexto38 · Answer 1 · 2022-12-16T07:53:43+01:00

The accounts receivables will be increased by $13,000 and the service revenues will be credited by $13,000 as a part of the journal entry of the given transaction.

A journal entry can be referred to or considered as the chronological recording of the accounting transactions during a given financial period in order to ensure safekeeping of the accounting records.

The journal entry for the financial transaction given above can be shown as below,

Date Particulars Debit Credit

Accounts Receivable Ac. Dr. 13,000

To, Service Revenue Ac. 13,000

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