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Otto's Auto provides automobile repair services. One of Otto's customers needed a major transmission repair on his car. The total repair bill was estimated at
Otto's Auto provides automobile repair services. One of Otto's customers needed a major transmission repair on his car. The total repair bill was estimated at $1,500. Otto always requires a 50% deposit before work begins. The customer paid the $750 deposit on May 29. Which of the following entries, if any, should be made on May 29th? O DR Cash 750; CR Repair revenue 750 O DR Cash 750; DR A/R 750; CR Repair revenue 1,500 DR Cash 750; CR Unearned revenue 750 No entry is required. Otto hasn't started the work yet
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