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XYZ Company provides IT maintenance services to clients on a time basis, but only invoices them at the end of every three months XYZ started
XYZ Company provides IT maintenance services to clients on a time basis, but only invoices them at the end of every three months XYZ started a $60,000 contract with a client on 1 November 2019, the client would not be invoiced for the $60,000 until 31 January 2020. The adjusting entry for XYZ on December 31,2019 would be: Select one: O Debit Accrued Revenue $20,000 and credit Service Revenue $20,000 b. Debit Service Revenue $40,000 and credit Accrued Revenue $40,000 O , Debit Service Revenue S20,000 and credit Accrued Revenue $20,000 d. Debit Accrued Revenue $40,000 and credit Service Revenue $40,000
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