Delivering a service the customer paid in advance
Transaction
Last month a customer paid a catering company $950.00 in cash in advance for an event, and the company credited Unearned Revenue. The deposit covers the whole price. Today the company caters the event.
Assumptions: Catering services are not subject to sales tax here.
Accounts
Tap an account, then choose Debit or Credit and type the amount. × removes a line.
Debit
No lines yet. Choose an account above.
Credit
No lines yet. Choose an account above.
Debits $0.00Credits $0.00
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