Question
NJW Company provided $4,200 of legal services. The client paid $2,000 up front and agreed to pay the remaining $2,200 in two weeks. Select the
NJW Company provided $4,200 of legal services. The client paid $2,000 up front and agreed to pay the remaining $2,200 in two weeks. Select the correct journal entry from the options below to record the transaction:
Multiple Choice
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a debit to Cash for $2,000, a credit to Accounts Payable for $2,200, and a credit to Fees Income for $4,200.
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a debit to Cash for $2,000, a debit to Accounts Receivable for $2,200, and a credit to Fees Income for $4,200.
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a debit to Fees Income for $4,200, a credit to Cash for $2,000, and a credit to Accounts Receivable for $2,200.
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a debit to Fees Income for $2,200, a debit to Cash for $2,000, and a credit to Accounts Receivable for $4,200.
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