Multiple Choice
A company receives money in advance of performing a service.What is the journal entry for the transaction?
A) Unearned Revenue - Debit; Accounts Payable - Credit
B) Cash - Debit; Unearned Revenue - Credit
C) Cash - Debit; Prepaid Fees - Credit
D) Cash - Debit; Accounts Receivable.- Credit
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Which of the following events does not
Q2: Generally,before Accounts Payable is credited,it is debited.
Q3: The general journal makes finding accounts in
Q4: Unearned revenues are classified as assets on
Q6: Which account does not affect retained earnings?<br>A)
Q7: The chart of accounts is the starting
Q8: Given the following ledger account and postings,complete
Q9: The journal account form has a Balance
Q10: Which of the following accounts will eventually
Q11: Match each definition with the correct term