BNL completed a performance and collected revenue of $8,000 not previously billed or recorded. The journal entry to record the collection would be:

Question

Quizplus · Accepted Answer

The journal entry to record the collection of revenue would be a debit to the cash account for $8,000 and a credit to the revenue account for $8,000. The correct journal entry is: 
Cash (debit) $8,000 
Revenue (credit) $8,000 
Choice B is the only option that includes both the correct accounts and a valid journal entry number.

BNL Completed a Performance and Collected Revenue of $8,000 Not