Question: PLEASE READ CAREFULLY! Indicate the proper journal entry to record the receiving of a cash payment on an Account Receivable from previously performed services: Select

PLEASE READ CAREFULLY! PLEASE READ CAREFULLY! Indicate the proper journal entry to record the receiving

Indicate the proper journal entry to record the receiving of a cash payment on an Account Receivable from previously performed services: Select one: a. Debit Cash, credit Accounts Receivable b. Debit Accounts Receivable, credit Cash c. Debit Cash, credit Service Revenue d. Debit Service Revenue, credit Accounts Receivable e. Debit Service Revenue, credit Retained Earnings

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Indicate the proper journal entry to record payment of a cash dividend previously declared: Select one: O a. Debit Cash, credit Dividend Payable O b. Debit Dividends, credit Cash O c. Debit...

Indicate the proper journal entry to record payment of an Account Payable from an inventory purchase: estion 13 ot yet swered Sints out of _00 Flag Select one: a. Debit Cash, credit Inventory b....

Indicate the proper journal entry to record payment of an Account Payable from an inventory purchase: Select one: a. Debit Cash, credit Inventory b. Debit Accounts Payable, credit Cash c. Debit...

Gross profit is calculated as the difference between net sales revenue and ________. A) purchases B) cost of goods sold C) cost of merchandise inventory D) selling and administrative expenses A C D B...

1 Assume Mr. Smith started his carpet cleaning business. He took $100,000 and open his business 11/1/2023. What would be the journal entry to start the business. A) Debit Cash $100,000 and credit...

i X - More Info Dec. 1 Williamson contributed $45,000 cash to the business in exchange for capital. 1 Purchased $10,800 of equipment paying cash. 1 Paid $2,400 for a eight-month insurance policy...

I need to check my work on part 2 and part 3 of this assignment. i already have provided correct answers for part 1 (they have yellow boxes in them) please do not provide part 1 answers- i already...

1.Indicate the proper journal entry to record payment of a cash dividend previously declared: Select one: a. Debit Cash, credit Dividend Payable b. Debit Dividends, credit Cash 2.A bookkeeper...

Dividend, expense, and asset accounts are increased with debits; liability, contributed capital, and revenue accounts are increased with credits. true false Costs of items that will continue to...

Find the surface area of the section of the cylinder x^2 + y^2 = a^2 made by the plane x+y+z= a.

Long Company reported the following results for the year ended December 31, 2021, its first year of operations: 2021 $2,000,000 Income (per books before income taxes) Taxable income 3,200,000 The...

Enumerate the social security taxes by indicating (a) whether they are federal or state taxes and (b) whether they are paid by the employer, the employee, or both.

Technology. Six months ago, you entered into a one-year contract with Waldos Fitness Center. In the past two months, much of the equipment has not been working properly. In addition, many days the...

As ticket manager for Help Me, Donnie, a popular new TV talk show, prepare a form letter to be sent to people who have requested and will receive tickets to the show. In addition to basic information...

Club members will handle publicity, security, setup, and cleanup; no one will have access to the building.As the companys facility manager, approve Brendas request.Waive the $150 facility-use fee...