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James Wright Performed Handyman Services for $2500

Question 16

Multiple Choice

James Wright performed handyman services for $2500. He received cash of $1500 with
The balance to be received within 28 days. Ignoring GST, the transaction is recorded as:


A) DR Cash $1500; DR Accounts receivable $1000; CR Services revenue $2500
B) DR Services revenue $2500; CR Cash $1500; CR Accounts payable $1000
C) DR Cash $2500; CR Equity $2500
D) DR Cash $1500; DR Equity $1000; CR Services revenue $2500

Correct Answer:

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