Multiple Choice
When a product or service is delivered for which a customer advance has been previously received, the appropriate journal entry includes:
A) A debit to a revenue and a credit to a liability account.
B) A debit to a revenue and a credit to an asset account.
C) A debit to an asset and a credit to a revenue account.
D) A debit to a liability and a credit to a revenue account.
Correct Answer:
Verified
Correct Answer:
Verified
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