A roofing company collects fees when jobs are complete. The work for one customer, whose job was bid at $4,700, has been completed as of December 31, but the customer has not yet been billed. Assuming adjustments are only made at year-end, what is the adjusting entry the company would need to make on December 31, the calendar year-end?

Multiple Choice

Debit Cash, $4,700; credit Roofing Fees Revenue, $4,700

Debit Roofing Fees Revenue, $4,700; credit Accounts Receivable, $4,700

Debit Accounts Receivable, $4,700; credit Roofing Fees Revenue, $4,700

Debit Roofing Fees Revenue, $4,700; credit Cash, $4,700

No adjustment is required.