Question: please explain Indicate which journal entry must be recorded for the following economic event on the exact day of the event: January 30 th .
please explain
Indicate which journal entry must be recorded for the following economic event on the exact day of the event: January 30th. Received a deposit of $800 for servicing a mid-afternoon get together on February 29th. The group wanted to reserve the date to do something special in her house as it only happens once every 4 years.
Multiple Choice
a. Dr Cash $800 Cr Advances from customers $800
b. Dr Cash $800 Cr Revenue $800
c. Dr Account Receivable $800 Cr Unearned Revenue
d. No journal entry
e. None of the other alternatives are correct
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