Casper Company performed $700 of services on account for Stevenson Company on September 1, 2018. Stevenson Company
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Question:
Casper Company performed $700 of services on account for Stevenson Company on September 1, 2018. Stevenson Company paid the bill in full on October 10, 2018.
What entry would Casper Company make on September 1, 2018?
a. Increase Cash for $700 and decrease Accounts Receivable for $700
b. Decrease Unearned Revenue for $700 and decrease Accounts Receivable for $700.
c. Increase Accounts Receivable for $700 and increase Revenue for $700
d. No entry is made on September 1, since Stevenson has not paid for the goods.
e. Increase Accounts Receivable for $700 and increase Unearned Revenue for $700.
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
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