ACCY 111 Champions performed tutoring services for $7,500. ACCY 111 Champions received $2,000 cash with the remainder being payable in 60 days' time. ACCY 111 Champions should record the transaction by the following journal entry: Select one: a. Debit Cash $2,000 and Loss on Bad Debts $5,500; credit Service Revenues $7,500 b. Debit Cash $2,000 and Accounts Receivable $5,500; credit Service Revenues $7,500 c. Debit Cash $7,500; credit Owner's Equity $7,500 d. Debit Revenues Earned $7,500; credit Cash $2,000 and Accounts Payable $5,500