When a company receives cash in advance for services it has yet to provide, what is the
Fantastic news! We've Found the answer you've been seeking!
Question:
When a company receives cash in advance for services it has yet to provide, what is the appropriate journal entry?
A) Debit: Cash; Credit: Service Revenue
B) Debit: Unearned Revenue; Credit: Service Revenue
C) Debit: Accounts Receivable; Credit: Cash
D) Debit: Service Revenue; Credit: Cash
Related Book For
Survey of Accounting
ISBN: 978-0077862374
4th edition
Authors: Thomas Edmonds, Christopher, Philip Olds, Frances McNair, Bor
Posted Date: