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Kay Company receives a cash payment of $4,000 on November 12 for services it will perform in December. What journal entry should Kay Company record
Kay Company receives a cash payment of $4,000 on November 12 for services it will perform in December. What journal entry should Kay Company record on November 12, when it receives the cash?
Question 2 options:
| Debit Cash for $4,000, Credit Deferred Service Revenue for $4,000. |
| Debit Cash for $4,000, Credit Service Revenue for $4,000. |
| Debit Service Revenue for $4,000, Credit Cash for $4,000. |
| Debit Service Revenue for $4,000, Credit Unearned Service Revenue for $4,000. |
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