On May 1, Ruby Lawn Service collected $2,500 cash from a customer in advance of five months

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On May 1, Ruby Lawn Service collected $2,500 cash from a customer in advance of five months of lawn service. Ruby’s journal entry to record this transaction includes a

a. Credit to Unearned Revenue for $2,500.

b. Debit to Services Revenue for $2,500.

c. Credit to Cash for $2,500.

d. Debit to Unearned Revenue for $2,500.

e. Credit to Accounts Payable for $2,500.

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Financial And Managerial Accounting

ISBN: 9781260728774

9th Edition

Authors: John J. Wild

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Question Posted: Jan 11, 2024 09:02 AM

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On May 1, Ruby Lawn Service collected $2,500 cash from a customer in advance of five months

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Financial And Managerial Accounting

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