Question

On December 31, the company provides consulting services and bills its customer $3,000 for these services.

Required:
Write down the necessary journal entry.

Answer 1

Answer:

Debit Accounts receivable $3,000

Credit Consulting Revenue $3,000

Explanation:

Based on the information given if the company provides consulting services and bills its customer the amount of $3,000 for these services the appropriate journal entry On December 31 will be:

On December 31

Debit Accounts receivable $3,000

Credit Consulting Revenue $3,000

Answer 2

• The journal entry for recording the consulting services is given below:

On December 31

Accounts Receivable $3,000  

         To Consulting Revenue $3,000

(Being consulting services is recorded)

Here the account receivable should be recorded as it increased the assets and credited the consulting revenue as it also increased the revenue.

Therefore we can conclude that the above journal entry should be recorded.

Learn more about the journal entry here: brainly.com/question/20421012