JournaldrillCash sale of services
A journal entry exercise from Journaldrill. Solve it with an account picker and debit and credit fields in your browser, and it is checked the moment you submit.
The task
Pinecrest Tutoring finishes a week of tutoring sessions and receives $850 in cash from parents at the end of the last session.
What this exercise teaches
Cash increases with a debit. The tutoring has already been performed, so the revenue is earned and Service Revenue is credited. Unearned Revenue would apply only if the cash were received before the work was done.
A hint if you get stuck
The service is complete and the money is in hand, so an asset and an earned revenue account both increase.
Try it now, no account needed
This exercise is free. Open it on the practice page, solve it, and get instant feedback with a hint and a worked solution after two tries.
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