Question

journal entry worksheet
on october 15, wti agreed to teach a four - month class (beginning immediately) for an executive with payment due at the end of the class. at december 31, $10,298 of the tuition revenue has been earned by wti.
note: enter debits before credits.
transaction general journal debit credit

Explanation:

Step1: Identify the accounting principle

Revenue recognition principle requires revenue to be recognized when earned.

Step2: Determine the accounts involved

The tuition revenue has been earned but not yet received, so we debit Accounts Receivable and credit Tuition Revenue.

Transaction	General Journal	Debit	Credit
	Tuition Revenue		$10,298

Answer:

Transaction	General Journal	Debit	Credit
	Tuition Revenue		$10,298