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.
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Step by Step Answer:
b The correcting entry is to debit Accounts Receivable 100 and credit Service Revenue 100 The other ...View the full answer
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Related Book For 
Financial Accounting
ISBN: 9781119298229,9781119305842
10th Edition
Authors: Jerry J. Weygandt , Donald E. Kieso , Paul D. Kimmel
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