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
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