Question
7 A firm signed a contract with another firm to provide 9-month service. It received 36.000 TL for 9-month service in advance in cash. Which
7 A firm signed a contract with another firm to provide 9-month service. It received 36.000 TL for 9-month service in advance in cash. Which one will be the accounting record?
Select one:
a Cash 36.000 debit, Unearned Revenue 36.000 credit
b Advance Payments 36.000 debit, Cash 36.000 credit
c Unearned Revenue 36.000 debit, cash 36.000 credit
d Cash 36.000 debit, Advance Payments 36.000 credit
9 When a building is sold for cash, the amount received is reflected as a cash
Select one:
a outflow in the operating section.
b inflow in the investing section.
c inflow in the financing section.
d inflow in the operating section.
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