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jewelia2801
10.11.2019 •
Business
Sally co. received payment in june for services to be performed in july for $500, what journal entry should she record at the end of july?
a. cash $500 unearned revenue $500
b. accounts receivable $500 unearned revenue $500
c. unearned revenue $500 service revenue $500
d. cash $500 service revenue $500
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Ответ:
Sally here received the cash for the services to be performed in July. Thus, she has received cash for the unearned revenue.
The journal entry to record the cash received for unearned revenue is -
Cash Dr... XXX
Unearned revenue Cr. XXX
Thus, the correct entry here will be -
Cash Dr. $ 500
Unearned Revenue Cr. $ 500
The correct option is a. Cash $ 500 Unearned revenue $ 500.
Ответ:
Haha, Lol Thanks for free points!