A company receives $10,000 in cash for services yet to be performed. Using the accrual method, what's
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Question:
A company receives $10,000 in cash for services yet to be performed.
Using the accrual method, what's the correct entry to record the transaction?
(A) Debit cash $10,000, credit accounts receivable $10,000
(B) Debit cash $10,000, credit sales revenue$1 0,000
(C) Debit sales revenue $10,000, credit cash $10,000
(D) Debit cash $10,000, credit unearned revenue $10,000
(E) Debit cash $10,000, credit accounts payable $10,000
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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