Multiple Choice
A company received $5,000 for 100 one-year subscriptions on July 1. The journal entry to record this cash receipt would include a:
A) credit to Accounts Payable for $5,000.
B) debit to Prepaid Expenses for $5,000.
C) credit to Unearned Revenue for $5,000.
D) debit to Note Payable for $5,000.
Correct Answer:
Verified
Correct Answer:
Verified
Q61: Duncan Services records prepaid expenses as expenses
Q62: Which of the following accounting terms assumes
Q65: On the first day of January, Patricia
Q68: In accounting terms, the calendar year is
Q69: If a company fails to make an
Q69: Henry Tax Planning Service bought computer equipment
Q70: On January 1, Smith had a beginning
Q71: Deborah Consultants had the following balances before
Q90: The accountant of Skyscrapers Architectural Services failed
Q160: The worksheet is NOT a journal,a ledger,or