Cash of $100 received at the time the service was performed was journalized and posted as a
Question:
Cash of $100 received at the time the service was performed was journalized and posted as a debit to Cash $100 and a credit to Accounts Receivable $100. Assuming the incorrect entry is not reversed, the correcting entry is:
a. Debit Service Revenue $100 and credit Accounts Receivable $100.
b. Debit Accounts Receivable $100 and credit Service Revenue $100.
c. Debit Cash $100 and credit Service Revenue $100.
d. Debit Accounts Receivable $100 and credit Cash $100. included in the correcting entry as it was recorded properly; and (d) Accounts Receivable should be debited for $100 and Cash should not be included in the correcting entry as it was recorded properly.
Step by Step Answer:
Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell