Question

an analysis of the unearned membership fees shows that 32000 remains unearned at December 31 uneared...

an analysis of the unearned membership fees shows that 32000 remains unearned at December 31
uneared revenue December 31 48000
service revenue December 31 180 000
2_ in additional the the fees included in the revenue account the company has earned another 24 000 in fees that will be collected in January 21 the company is also expected 14000 on the same day for new earned during January
entries ?

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Answer #1
Date Particulars Debit (amount) Credit (amount)
31st Dec Menbership Fees Receivable A/c Dr. 32000
To Unearned Membership Fees 32000
(Being Membership Fees Receivable at end of month)
31st Dec Revenue Receivable 228000
To Unearned Revenue A/c 48000
To Service Revenue unearned 180000
(Being Revenue Receivable at the end of the month)
21st Jan Bank A/c Dr 24000
To Revenue A/c 24000
(Being Revenue Received for the month of December)
21st Jan Revenue A/c Dr 24000
To Revenue Receivable A/c 24000
(Being Revenue received for December Month)
21st Jan Bank A/c Dr 14000
To Revenue A/c 14000
(Being Revenue Received for Current Month)
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