Current liabilities must be paid either in cash or with goods and services within one year or within the entity's operating cycle, if the cycle is longer than a year.

True

False

On August $31$ of the current year, Allright Services received $$3,500$ in advance of performing the service. Which journal entry is needed to record the receipt of cash?

A$.$ Debit Cash $$3,500,$ and credit Service Revenue $$3,500.$

B$.$ Debit Unearned Revenue $$3,500,$ and credit Cash $$3,500.$

C$.$ Debit Unearned Revenue $$3,500,$ and credit Service Revenue $$3,500.$

D$.$ Debit Cash $$3,500,$ and credit Unearned Revenue $$3,500.$

$(1)$ Time Remaining: $00$:$57$:$51$

$4\mathrm{.}45$ PM

$\frac{6}{17}\frac{?}{2024}$