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Sagot :
Richards billed patients for $12,000 of services rendered. the appropriate journal entry to record this transaction is Credit Revenue. The ordinary equilibrium for your value is known as a credit balance, and in that capacity, revenues must be recorded as a credit and not a charge.
What does Credit Revenue means?
In Accounting, revenues are credits since revenues make proprietor's value or investors' value increment.
Revenue Credit implies the revenue from the Arrangement's Speculation Assets if any, that are held in the Revenue Credit Record inside the Arrangement and that stay after the installment of Plan costs.
At your bookkeeping year's end, all revenue account credit adjusts must be shut and afterward moved to your capital record, accordingly expanding your value.
Therefore Credit Revenue is correct.
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