Solved

Which of the Following Journal Entries Would Be Recorded If  Cash 1,000 Service revenue 1,000\begin{array} { | l | r | r | } \hline \text { Cash } & 1,000 & \\\hline \text { Service revenue } & & 1,000 \\\hline\end{array}

Question 55

Multiple Choice

Which of the following journal entries would be recorded if a business collects $1,000 cash on account from a customer for services performed at an earlier date?


A)  Cash 1,000 Service revenue 1,000\begin{array} { | l | r | r | } \hline \text { Cash } & 1,000 & \\\hline \text { Service revenue } & & 1,000 \\\hline\end{array}
B)  Accounts receivable 1,000 Service revenue 1,000\begin{array} { | c | r | r | } \hline \text { Accounts receivable } & 1,000 & \\\hline \text { Service revenue } & & 1,000 \\\hline\end{array}
C)  Cash 1,000 Accounts receivable 1,000\begin{array} { | l | r | r | } \hline \text { Cash } & 1,000 & \\\hline \text { Accounts receivable } & & 1,000 \\\hline\end{array}
D)  Service revenue 1,000 Accounts receivable 1,000\begin{array} { | l | r | r | } \hline \text { Service revenue } & 1,000 & \\\hline \text { Accounts receivable } & & 1,000 \\\hline\end{array}

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions