Kincaid Company provided consulting services of $2,500 to a customer who paid $1,300 and promised to pay
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Question:
Kincaid Company provided consulting services of $2,500 to a customer who paid $1,300 and promised to pay the remainder next month. Which of the following journal entries correctly records this transaction?
A).
Cash | 1,300 | |
Accounts Payable | 1,200 | |
Consulting Revenue | 2,500 |
B).
Cash | 1,300 | |
Accounts Receivable | 1,200 | |
Consulting Revenue | 2,500 |
C).
Cash | 1,300 | |
Consulting Revenue | 1,300 |
D).
Consulting Revenue | 2,500 | |
Cash | 1,300 | |
Accounts Receivable | 1,200 |
Related Book For
Essentials of Business Communication
ISBN: 978-1111821227
9th edition
Authors: Mary Ellen Guffey, Dana Loewy
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