1. Real estate asset manager performs services for customers and bills the customers. Provide the

journal entry for these transactions?

a. Accounts receivable increase by $5,000; revenues increase by $5,000.

b. Cash increases by $5,000; revenues increase by $5,000.

c. Cash increases by $5,000; accrued liability increase by $5,000.

d. Cash decrease by $5,000; Prepaid Expenses increase by $5,000.