Question: Spruce Tree Inc. billed its client $2,000 for services performed. Which of the following journal entries is recorded correctly? Group of answer choices DR: Accounts

Spruce Tree Inc. billed its client $2,000 for services performed. Which of the following journal entries is recorded correctly? Group of answer choices DR: Accounts Receivable $2,000; CR: Service Revenue $2,000 DR: Accounts Receivable $2,000; CR: Unearned Revenue $2,000 DR: Service Revenue $2,000; CR: Accounts Receivable $2,000 DR: Cash $2,000; CR: Service Revenue $2,000

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!

Spruce Tree Inc. billed its client $2,000 for services performed. Which of the following journal entries is recorded correctly? O DR: Service Revenue $2,000; CR: Accounts Receivable $2,000 VO DR:...

Please help! i need help with requirement 2 and 3,4 1 of 6 (6 complete) Score: 3.89 of 10 pts HW Score: 74.12%, 44.47 of 60 pt P2-33A (similar to) Requirements Thomas Stevens opened an accounting...

On July 7, Swifty Industries purchased supplies of $2200 for cash. The entry to record the purchase will include a debit to Supplies and a credit to Cash. a debit to Accounts Receivable and a credit...

I am Lee, Broome, MacBay, and Luttrell, CPA's potential client, and I need your assistance with two tasks related to accounting for investments that I am working on. I am the CFO of Mimi Corporation,...

Spend analysis Stock-keeping unit (SKU) 10 Three-way match Utilization ty Images; @ monsity/ Getty Images Vendor master health care? iency? CHAPTER 17 applied, and what are the steps to fol-...

I need to find out if I'm on the right track with this assignment and and explanation on what vertical and horizontal analysis are. I don't understand some of the questions and have marked them in...

please answer question 4 1. The statements of financial position of Claude Company include the following: 12/31/20 12/31/19 Interest Receivable 4,300 -O- Supplies 5,000 3,000 Salaries and Wages...

please answer question 2 1. The statements of financial position of Claude Company include the following: 12/31/20 12/31/19 Interest Receivable 4,300 -O- Supplies 5,000 3,000 Salaries and Wages...

Need help completing this project i have the journal entries but cant figure out the adjustments or the rest Lenny's Lawn Service, Inc. - Transactions - Additional Information July 2021 Transactions...

The templates is the following, for the Continuing Problem that I asked for help. This is the continuing Problem. Can you answer all the templates. Thank you Anyone can help me? Thank you E G H...

A construction project is broken down into the following 10 activities: a. Draw the network diagram. b. Find the critical path. c. If activities 1 and 10 cannot be shortened, but activities 2 and 9...

The city of Aarhus is considering the deployment of electric battery charging stations across the city, such as to promote the use of electric cars to mitigate air pollution. Each charging station...

Suppose Wacken, Limbed just issued a dividend of $ 2 . 4 8 per shave on ts cominon stack. The cornoany padd dividends of $ 1 . 9 8 , $ 2 . 0 5 . $ 2 . 2 2 and $ 2 . 3 2 per share in the last four...

Free cash flow valuation You are evaluating the potential purchase of a small business with no debt or preferred stock that is currently generating $ 4 2 , 7 0 0 of free cash flow ( F C F 0 = $ 4 2 ,...