Bantley, Inc., collects cash from customers two ways:a. Accrued revenue. Some customers pay Bantley.

Bantley, Inc., collects cash from customers two ways:a. Accrued revenue. Some customers pay Bantley after Bantley has performed service for the customer. During 2012, Bantley made sales of $55,000 on account and later received cash of $35,000 on account from these customers.b. Unearned revenue. A few customers pay Bantley in advance, and Bantley later performs the service for the customer. During 2012, Bantley collected $9,000 cash in advance and later earned $7,000 of this amount.Journalize the following for Bantley:a. Earning service revenue of $55,000 on account and then collecting $35,000 on accountb. Receiving $9,000 in advance and then earning $7,000 as service revenueView Solution:
Bantley Inc collects cash from customers two ways a Accrued

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