Multiple Choice
Right Style received a $1000 advance payment from a customer for work to be carried out in the next accounting period. Which of the following is the correct accounting entry to initially record the $1000?
A) Debit bank $1000; credit unearned income $1000
B) Debit unearned income $1000; credit bank $1000
C) Debit bank $1000; credit accounts payable $1000
D) Debit income earned $1000; credit bank $1000
Correct Answer:
Verified
Correct Answer:
Verified
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