Suppose an Economics Professor Receives a $10,000 Royalty Check from a Foreign

Multiple Choice

Suppose an economics professor receives a $10,000 royalty check from a foreign publishing company and deposits the amount in a local bank. This transaction would be recorded as:

A) a $10,000 credit entry in the domestic services account.
B) a $20,000 debit entry in the domestic capital account.
C) a $10,000 credit entry in the domestic capital account.
D) a $10,000 debit entry in the domestic services account.