JWood Performed Carpentry Services for $7500 $\$ 5500$ Ignoring GST the Transaction Is Recorded As:
A

Short Answer

J.Wood performed carpentry services for $7500.He received cash of $2000 and gave 1. credit for $\$ 5500$ . Ignoring GST the transaction is recorded as:
a. Debit Cash $\$ 2000$ , deb it Accounts Receivable $\$ 7500$ , credit Accounts receivable $\$ 2000$ , credit Income Eamed $\$ 7500$
b. Debit Income Earned $\$ 7500$ , credit Cash $\$ 2000$ , credit Accounts Payable $\$ 5500$
c. Debit Cash $\$ 7500$ , credit Equity $\$ 7500$
d. Debit Cash $\$ 2000$ , debit Equity $\$ 5500$ , credit Income Earned $\$ 7500$