Question : 71. Hesson Properties, Inc.Transactions for Hesson Properties provided below. Nov. 1 Hesson purchases : 1224876

 

 

71. Hesson Properties, Inc.Transactions for Hesson Properties are provided below. 

Nov. 1

Hesson purchases two new maintenance carts on credit at $375 each. The carts are added to Hesson’s property, plant, and equipment records. Payment is due in 30 days.

 

 

Nov. 8

Hesson accepts $75 of advance payments from customers for services to be provided in December.

 

 

Nov. 15

Hesson receives the utility bill for $150. Payment is due in 30 days.

 

 

Nov. 20

Customers are billed $750 by Hesson for property services.

 

Payment is due from the customers in 30 days.

 

 

Nov. 30

Hesson received $500 from customers who were billed on November 20th.

 

 

Refer to the transactions that occurred at Hesson Properties. Based on these transactions, what is the journal entry to record the November 1st transaction? A. Equipment                         750     Accounts Payable                           750B. Equipment                         750     Cash                                                750C. Cash                                   750     Equipment                                      750D. Accounts Payable              750     Equipment                                      750

 

72. Hesson Properties, Inc.Transactions for Hesson Properties are provided below. 

Nov. 1

Hesson purchases two new maintenance carts on credit at $375 each. The carts are added to Hesson’s property, plant, and equipment records. Payment is due in 30 days.

 

 

Nov. 8

Hesson accepts $75 of advance payments from customers for services to be provided in December.

 

 

Nov. 15

Hesson receives the utility bill for $150. Payment is due in 30 days.

 

 

Nov. 20

Customers are billed $750 by Hesson for property services.

 

Payment is due from the customers in 30 days.

 

 

Nov. 30

Hesson received $500 from customers who were billed on November 20th.

 

 

Refer to the transactions that occurred at Hesson Properties. Based on these transactions, what is the journal entry to record the November 8th transaction? A. Cash                                     75     Service Revenue                               75B. Accounts Receivable           75     Service Revenue                               75C. Cash                                     75     Unearned Revenue                           75D. Unearned Revenue               75     Accounts Receivable                        75

 

73. Hesson Properties, Inc.Transactions for Hesson Properties are provided below. 

Nov. 1

Hesson purchases two new maintenance carts on credit at $375 each. The carts are added to Hesson’s property, plant, and equipment records. Payment is due in 30 days.

 

 

Nov. 8

Hesson accepts $75 of advance payments from customers for services to be provided in December.

 

 

Nov. 15

Hesson receives the utility bill for $150. Payment is due in 30 days.

 

 

Nov. 20

Customers are billed $750 by Hesson for property services.

 

Payment is due from the customers in 30 days.

 

 

Nov. 30

Hesson received $500 from customers who were billed on November 20th.

 

 

Refer to the transactions that occurred at Hesson Properties. Based on these transactions, what is the journal entry to record the November 15th transaction? A. Utilities Expense                  150     Cash                                                 150B. Accounts Receivable            150     Utilities Expense                              150C. Utilities Expense                  150     Accounts Payable                             150D. Cash                                      150     Utilities Expense                              150

 

74. Hesson Properties, Inc.Transactions for Hesson Properties are provided below. 

Nov. 1

Hesson purchases two new maintenance carts on credit at $375 each. The carts are added to Hesson’s property, plant, and equipment records. Payment is due in 30 days.

 

 

Nov. 8

Hesson accepts $75 of advance payments from customers for services to be provided in December.

 

 

Nov. 15

Hesson receives the utility bill for $150. Payment is due in 30 days.

 

 

Nov. 20

Customers are billed $750 by Hesson for property services.

 

Payment is due from the customers in 30 days.

 

 

Nov. 30

Hesson received $500 from customers who were billed on November 20th.

 

 

Refer to the transactions that occurred at Hesson Properties. Based on these transactions, what is the journal entry to record the November 20th transaction? A. Cash                                       750     Accounts Receivable                         750B. Accounts Receivable             750     Service Revenue                                750C. Service Revenue                    750     Cash                                                   750D. Service Revenue                    750     Accounts Payable                              750

 

75. Hesson Properties, Inc.Transactions for Hesson Properties are provided below. 

Nov. 1

Hesson purchases two new maintenance carts on credit at $375 each. The carts are added to Hesson’s property, plant, and equipment records. Payment is due in 30 days.

 

 

Nov. 8

Hesson accepts $75 of advance payments from customers for services to be provided in December.

 

 

Nov. 15

Hesson receives the utility bill for $150. Payment is due in 30 days.

 

 

Nov. 20

Customers are billed $750 by Hesson for property services.

 

Payment is due from the customers in 30 days.

 

 

Nov. 30

Hesson received $500 from customers who were billed on November 20th.

 

 

Refer to the transactions that occurred at Hesson Properties. Based on these transactions, what is the journal entry to record the November 30th transaction? A. Cash                                       500     Accounts Receivable                          500B. Accounts Receivable             500     Service Revenue                                 500C. Accounts Payable                  500     Cash                                                    500D. Service Revenue                    500     Cash                                                    500

 

76. Hesson Properties, Inc.Transactions for Hesson Properties are provided below. 

Nov. 1

Hesson purchases two new maintenance carts on credit at $375 each. The carts are added to Hesson’s property, plant, and equipment records. Payment is due in 30 days.

 

 

Nov. 8

Hesson accepts $75 of advance payments from customers for services to be provided in December.

 

 

Nov. 15

Hesson receives the utility bill for $150. Payment is due in 30 days.

 

 

Nov. 20

Customers are billed $750 by Hesson for property services.

 

Payment is due from the customers in 30 days.

 

 

Nov. 30

Hesson received $500 from customers who were billed on November 20th.

 

 

Refer to the transactions that occurred at Hesson Properties. Based on these transactions, how much is still owed to Hesson from its customers at the end of November? A.    -0-B. $250C. $500D. $700