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2. On May 1, Mattingly Lawn Service collected 2,500 cash from a customer in advance of five months of lawn service. Mattingly's journal entry to
2. On May 1, Mattingly Lawn Service collected 2,500 cash from a customer in advance of five months of lawn service. Mattingly's journal entry to record this transaction includes a a. Credit to Unearned Lawn Service Fees for 2,500. b. Debit to Lawn Service Fees Earned for 2,500. c. Credit to Cash for 2,500. d. Debit to Unearned Lawn Service Fees for 2,500. e. Credit to capital for 2,500. 3. Liang Shue contributed 250,000 cash and land worth 500,000 to open his new business, Shue Consulting. much of the following journal entries does Shue Consulting make to record this transaction? a. Dr Acc. Cash Assets ........... 750,000 CrAcc. L. Shue, Capital . . . . . . ..........750,000 b. DrAcc. L. Shoe, Capital ........ 750,000 CrAcc. Assets . . . . . . . . . . . . . . ..........750,000 c. Dr Acc. Cash ................. 250,000 Dr Acc. Land ................. 500,000 CrAcc. L. Shue, Capital . . . . . . ..........750,000 (:1. DrAcc. L. Shue, Capital ........ 750,000 CrAcc. Cash. . . . . . . . . . . . . . . ............250,000 CrAcc.Land . . . . . . . . . . . . . . 500,000 4. A trial balance prepared at year-end shows total credits exceed total debits by 765. This discrepancy could have been caused by a. An error in the general journal where a 765 increase in Accounts Payable was recorded as a 765 decrease in Accounts Payable. b. The ledger balance for Accounts Payable of 7,650 being entered in the trial balance as 765. c. A general journal error where a 765 increase in Accounts Receivable was recorded as a 765 increase in Cash. d. The ledger balance of 850 in Accounts Receivable was entered in the trial balance as 85. e. An error in recording a 765 increase in Cash as a credit
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