Multiple Choice
On September 23, Riley Company received a $350 check from Jack Colaw for services to be performed in the future. The bookkeeper for Riley Company incorrectly debited Cash for $350 and credited Accounts Receivable for $350. The amounts have been posted to the ledger. To correct this entry, the bookkeeper should
A) debit Cash $350 and credit Unearned Service Revenue $350.
B) debit Accounts Receivable $350 and credit Unearned Service Revenue $350.
C) debit Accounts Receivable $350 and credit Cash $350.
D) debit Accounts Receivable $350 and credit Service Revenue $350.
Correct Answer:
Verified
Correct Answer:
Verified
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