Multiple Choice
The Houston Robots basketball team receives $5,000 for season tickets on August 1. By December 31, they have earned $2,000 of the revenue. The adjusting entry to be made on December 31 by the Houston Robots includes a:
A) credit to Unearned Revenue of $2,000.
B) debit to Unearned Revenue of $2,000.
C) debit to Service Revenue of $2,000.
D) credit to Prepaid Revenue of $3,000.
Correct Answer:
Verified
Correct Answer:
Verified
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