Mary signed up and paid $1,500 for a 6 month ceramics course on June 1^st with Choplet Ceramics. As of August 1^st, Choplets accounting records would indicate:

Multiple Choice

$1,500 of revenue, $1,500 of cash

$1,000 of revenue, $500 of accounts receivable

$500 of revenue, $1,000 of deferred revenue

$500 of revenue, $1,000 of accounts receivable