Multiple Choice
Legion Design Studio provided $5,000 of design services on account.How would Legion Claire Spa record this transaction?
A) Accounts Receivable increases by $5,000 and Design Services Revenue increases by $5,000.
B) Cash increases by $5,000 and Design Services Revenue increases by $5,000.
C) Cash increases by $5,000 and Accounts Receivable decreases by $5,000.
D) Accounts Receivable increases by $5,000 and Design Services Revenue decreases by $5,000
E) Cash decreases by $5,000 and Accounts Receivable increases by $5,000.
Correct Answer:
Verified
Correct Answer:
Verified
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