Asked by
Jamie Ragland
on Nov 12, 2024
Verified
Services provided on account are recorded in the revenue journal.
Revenue Journal
An accounting ledger that records all transactions involving the income earned by the business, specifically from its operations and activities.
Provided on Account
A transaction that occurs when goods or services are delivered with the understanding that payment will be made at a later date.
- Acquire knowledge on the procedures for documenting transactions in general and specialized journals.
- Discern the differences between different classes of transactions and the proper journal records for each.
Verified Answer
SL
Learning Objectives
- Acquire knowledge on the procedures for documenting transactions in general and specialized journals.
- Discern the differences between different classes of transactions and the proper journal records for each.