Which of the following is the entry to be recorded by a law firm when it receives

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Which of the following is the entry to be recorded by a law firm when it receives a retainer from a new client at the initial client meeting?

a. debit to Accounts Receivable; credit to Sales Revenue

b. debit to Unearned Revenue; credit to Sales Revenue

c. debit to Cash; credit to Unearned Revenue

d. debit to Unearned Revenue; credit to Cash

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Financial Accounting

ISBN: 9780073208145

5th Edition

Authors: Robert Libby, Patricia Libby, Daniel Short

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