Multiple Choice
On May 1,a business provided legal services to a client and billed the client $4,000.The client promised to pay the business in one month.Which journal entry should the business record on May 1?
A) Debit Cash for $4,000 and credit Service Revenue for $4,000.
B) Debit Cash for $4,000 and credit Retained Earnings for $4,000.
C) Debit Accounts Receivable for $4,000 and credit Service Revenue for $4,000.
D) Debit Accounts Payable for $4,000 and credit Service Revenue for $4,000.
Correct Answer:

Verified
Correct Answer:
Verified
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