Multiple Choice
Two sisters operate a bed and breakfast on the coast of Maine.As customers make reservations they are required to pay cash in advance equal to one-half of the rate for their stay.How should the sisters account for the cash received as reservations are made?
A) Cash
Unearned Service Revenue
B) Cash
Service Revenue
C) Unearned Service Revenue
Service Revenue
D) Cash
Sales Revenue
Correct Answer:
Verified
Correct Answer:
Verified
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