Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 19th 2021, Muscat Company Receive OMR 15,000 Cash in advance for service to be completed in the next 3 months. The Journal Entry

image text in transcribed
On January 19th 2021, Muscat Company Receive OMR 15,000 Cash in advance for service to be completed in the next 3 months. The Journal Entry should be: Select one: Select one: O a. DEBIT Services Revenues OMR 15,000 and CREDIT Cash OMR 4,000 b. DEBIT Cash OMR 15,000 and CREDIT Unearned Service Revenues OMR 15,000 c. DEBIT Unearned Service Revenues OMR 15,000 and CREDIT Cash OMR 15,000 d. No entry-not a transaction e. DEBIT Cash OMR 15,000 and CREDIT Services Revenues OMR 15,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Lean Auditing Driving Added Value And Efficiency In Internal Audit

Authors: James C. Paterson

1st Edition

1118896882, 978-1118896884

More Books

Students also viewed these Accounting questions