Assume that the chart of accounts for Roth Co. includes the…
Assume that the chart of accounts for Roth Co. includes the following accounts: Cash, Accounts Receivable, Equipment, Accounts Payable, Sam Roth, Capital, Sam Roth, Drawing, Fees Earned, Salary Expenses, and Utilities Expense. On July 7, the company recorded jobs completed and billed to the customers for the week $12,000. Using the chart of accounts above, indicate the account that should be recorded in the Description column of the Journal item (1) as the debit account for the $12,000 amount. Date Description P.Ref. Debit Credit July 7 (1) $12,000 (2) $12,000
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