Multiple Choice
A landscaping project was completed during December and the accrued revenue of $15,000 was recorded in an adjusting entry dated December 31,2014.A check in this amount was received from the customer on January 20,2015.How would the company record this receipt of cash?
A) Debit Cash for $15,000 and credit Accounts Receivable for $15,000.
B) Debit Cash for $15,000 and credit Landscape Revenue for $15,000.
C) Debit Unearned Revenue for $15,000 and credit Landscape Revenue for $15,000.
D) Debit Cash for $15,000 and credit Unearned Revenue for $15,000.
E) Debit Landscape Revenue for $15,000 and credit Income Summary for $15,000.
Correct Answer:

Verified
Correct Answer:
Verified
Q38: Profit margin can also be called return
Q71: Adjusting entries are made after the preparation
Q84: A company issued financial statements for the
Q85: The alternative method of accounting for prepayments<br>A)Initially
Q86: The adjusted trial balance of E.Pace,Consultant,is entered
Q87: On December 31,the balance in the Prepaid
Q89: The cash basis of accounting is an
Q90: Compute profit margin ratio given the following
Q91: A post-closing trial balance includes:<br>A)All ledger accounts
Q168: Current assets and current liabilities are expected