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Carlos's Dynamite Disco specializes in providing DJ services for birthdays, weddings, and special occasions. He books a birthday party for $3,000, to be held on
Carlos's Dynamite Disco specializes in providing DJ services for birthdays, weddings, and special occasions. He books a birthday party for $3,000, to be held on October 22, 2020, and collects a $1,000 deposit on October 1\". Assuming he made the correct entry on 10/1, what entry should he make on 10/22 after he completes the party and collects the cash balance owed to him?
Debit: Service revenues $1,000, Debit Cash $2,000, and Credit: Unearned Revenues $3,000
Debit: Unearned revenues $1,000 and Credit: Revenues $1,000
Debit: Cash $2,000 and Credit: Revenues $2,000
Debit: Cash $2,000, Debit Uneamed Revenues $1,000 and Credit: Revenues $3,000.
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