Phone Consulting services of $1,800 were performed on the last day of the month for a new customer Graham Engineering, Inc. but not invoiced to the customer or recorded into the accounting records until a few days into the next month. Create a new asset account like you did earlier in the chapter. Depreciation Expense of $1,200 ($850 and $350 for Buildings and Machinery & Equipment respectively) needed to be recorded for the month. Before recording this journal entry, edit the “Depreciation” expense account so that the new name is “Depreciation Expense.” Also change the account title for the Machinery & Equipment accumulated depreciation account from “Depreciation” to “Accumulated Depreciation” like you did earlier in the chapter. This also needs to be done for the Buildings accumulation depreciation acc
Phone Consulting services of $1,800 were performed on the last day of the month for a new customer Graham Engineering, Inc. but not invoiced to the customer or recorded into the accounting records until a few days into the next month. Create a new asset account like you did earlier in the chapter.
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