Question
On July 7, Saints Incorporated received $9,800 in cash from a customer for services to be provided on October 10. Which of the following describes
On July 7, Saints Incorporated received $9,800 in cash from a customer for services to be provided on October 10. Which of the following describes how the transaction should be recorded on July 7?
Multiple Choice
- Debit Accounts Receivable $9,800, credit Service Revenue $9,800
- Debit Cash $9,800, credit Deferred Revenue $9,800
- Debit Cash $9,800, credit Service Revenue $9,800
- debit deffered rev 9800 credit cash 9800
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Fundamental Accounting Principles
Authors: John J Wild, Ken Shaw
25th Edition
1260247988, 978-1260247985
