Under the accrual basis of accounting, a company performed a service worth $₦10,000$ on 31 March but will receive payment on 15 April. How should this transaction be recorded in the March trial balance? State the debit and credit accounts and the amounts.

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Debit Accounts Receivable 10000; Credit Service Revenue 10000

Gce Model Questions Vol1 2020 Financial Accounting Question 34

Under the accrual basis of accounting, a company performed a service worth \(₦10,000\) on 31 March but will receive payment on 15 April. How should this transaction be recorded in the March trial balance? State the debit and credit accounts and the amounts.

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