Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On September 1, 2015, Richard started a small business called Ricky Rock Wrestling for Fun. Ricky Rock offers a party package designed for active kids,

image text in transcribed On September 1, 2015, Richard started a small business called "Ricky Rock Wrestling for Fun". "Ricky Rock" offers a party package designed for active kids, teen and adults that want to learn and practice wrestling activities for fun by learning how to perform headlocks, leg scissors and other tricks. The following transaction occurred during the first month of operations, please indicate how it should be recorded as a journal entry: Multiple Choice The economic event does not need a journal entry Dr. Accounts Recelvables 2,000 and Cr. Revenue 2,000 Dr. Cash 2,000 and Cr. Revenue 2,000 Dr. Revenue 2,000 and Cr. Accounts recelvables 2,000 None of the other journal entrles are correct, it is another journal entry

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

Introduction To Managerial Accounting

Authors: Peter Brewer, Ray Garrison, Eric Noreen

3rd Edition

0073048836, 9780073048833

More Books

Students also viewed these Accounting questions