Question
Dave has a small interior design business. A customer paid a $3,000 deposit for design and staging to be done in two months. How should
Dave has a small interior design business. A customer paid a $3,000 deposit for design and staging to be done in two months. How should this transaction be recorded currently in T-accounts?
a. No entry.
b. Left side of Cash (increase) $3,000; Right side of Unearned Revenue (increase) $3,000
c. Left side of Accounts Receivable (increase) $3,000; Right side of Service Revenue (increase) $3,000
d. Left side of Cash (increase) $3,000; Right side of Service Revenue (increase) $3,000
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Fundamental Accounting Principles Volume 2
Authors: Kermit D. Larson, Heidi Dieckmann, John Harris
17th Canadian Edition
1260881334, 9781260881332
