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A company received $5,000 for 100 one-year subscriptions on July 1. The journal entry to record this cash receipt would include a ________. The company
- A company received $5,000 for 100 one-year subscriptions on July 1. The journal entry to record this cash receipt would include a ________. The company uses a liability account for revenue received in advance.
(a) credit to Accounts Payable for $5,000
(b) debit to Prepaid Expenses for $5,000
(c) credit to Unearned Revenue for $5,000
(d) debit to Note Payable for $5,000
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Data Analysis And Decision Making
Authors: Christian Albright, Wayne Winston, Christopher Zappe
4th Edition
538476125, 978-0538476126
