What are the entries to revenues accounts such as Service Revenues - ProProfs Discuss
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What are the entries to revenues accounts such as Service Revenues usually called?

Asked by Rsahiwal, Last updated: Apr 15, 2024

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6 Answers

aquinorolando14

aquinorolando

aquinorolando14
Aquinorolando

Answered Oct 21, 2019

The answer is Credit, not debit.

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yarrahcrispin

yarrahcrispin

yarrahcrispin
Yarrahcrispin

Answered Jan 28, 2020

Debit: Cash or Accounts Receivable Credit entry: Service Revenue

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bc032885junk

bcjunk

bc032885junk
Bcjunk

Answered Jan 28, 2020

The answer to this question is definitely CREDIT. Think about a cash sale. Your cash will increase, so you debit cash; therefore, your entry on the revenue side MUST be credit. Revenue is also on the right side of the Accounting equation, where it rolls up into Equity. If you are debiting your revenue account, you're doing it wrong.

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Virgilio Nacario

Virgilio Nacario

Virgilio Nacario
Virgilio Nacario

Answered Sep 08, 2020

I agree with most of the commenters here. The answer should be Credit. As it is, revenue accounts have normal credit balances so they should be recordedas credit entries in the journal.

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jireahclaudette.bonsol.ac

jireahclaudette.bonsol.ac

jireahclaudette.bonsol.ac
Jireahclaudette.bonsol.ac

Answered Sep 26, 2019

The entries to revenues accounts such as Service Revenues are usually called debit.

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rsahiwal

rsahiwal

rsahiwal
Rsahiwal

Answered Jul 22, 2019

Here, the answer is debit.

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