Multiple Choice
West Corporation issued a $100 gift card.What journal entry will West Corporation record?
A) Debit Cash and credit Sales Revenue for $100.
B) Debit Cash and credit Unearned Revenue for $100.
C) Debit Unearned Revenue and credit Cash for $100.
D) Debit Accounts Receivable and credit Cash for $100.
Correct Answer:
Verified
Correct Answer:
Verified
Q18: The financial statement that reports revenues and
Q21: Cash basis accounting may not work well
Q22: Which of the following statements about the
Q23: Bank 'n' Roll,Inc.pays its employees once a
Q24: In its first year of business,Wok 'n'
Q27: On September 30,ABC Co.received a bill for
Q28: On October 31,your company prepays rent of
Q30: Which of the following statements about the
Q31: Unearned Revenue is a(n):<br>A) expense.<br>B) asset.<br>C) revenue.<br>D)
Q164: Revenues:<br>A)decrease assets.<br>B)increase stockholders' equity.<br>C)increase liabilities.<br>D)decrease expenses.