Question
A company signs a sales contract to deliver ingrediant to Mcdonald. Mcdoanld pays you a non-refundable $100,000 deposit. The journal entry is a. Dr. Cash
A company signs a sales contract to deliver ingrediant to Mcdonald. Mcdoanld pays you a non-refundable $100,000 deposit. The journal entry is
a. Dr. Cash 100,000 ; Cr Unearned revenue: 100,000;
b.Dr. Cash 100,000 ; Cr. Accounts payable: 100,000
c.Dr. Cash 100,000 ; Cr. Sales revenue: 100,000
d.
None of these
Clear my choice
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Cost Accounting A Managerial Emphasis
Authors: Srikant M. Datar, Madhav V. Rajan, Charles T. Horngren, Louis Beaubien, Chris Graham
7th Canadian Edition
133138445, 978-0133926330, 133926338, 978-0133138443
