Management Services,Inc

Multiple Choice

Management Services,Inc.provides services to clients.On May 1,a client prepaid Management Services $60,000 for 6-months contract in advance.Management Services' general journal entry to record this transaction will include a

A) Debit to Unearned Management Fees for $60,000
B) Credit to Management Fees Earned for $60,000
C) Credit to Cash for $60,000
D) Credit to Unearned Management Fees for $60,000
E) Debit to Management Fees Earned for $60,000