Cesar Cielo's consulting business receives an advance payment of 70% of services to be performed. In August, Cesar agreed to perform $20,000 worth of services to be performed in September. Record the entry for the receipt of cash during the month of August.

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The Answer of Cesar Cielo's consulting business receives an advance payment of 70% of services to be performed. In August, Cesar agreed to perform $20,000 worth of services to be performed in September. Record the entry for the receipt of cash during the month of August.

Cesar Cielo's Consulting Business Receives an Advance Payment of 70