Business, 15.10.2020 08:01 lilquongohard

1. Accounts Receivable. At year-end, the L. Cole Company has completed services of $20,500 for a client, but the client has not yet been billed for those services. 2. Interest Receivable. At year-end, the company has earned, but not yet recorded, $450 of interest earned from its investments in government bonds.
3. Accounts Receivable. A painting company bills customers when jobs are complete. The work for one job is now complete. The customer has not yet been billed for the $1,420 of work.

Required:
a. Determine what the current account balance equals.
b. Determine what the current account balance should equal.
c. Record an adjusting entry to get from a to b. Assume no other adjusting entries are made during the year.

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1. Accounts Receivable. At year-end, the L. Cole Company has completed services of $20,500 for a cli...

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