If a company provides a service and receives payment at the same time,:
A)more than one journal entry is needed.
B)cash will be credited.
C)a revenue account will be increased with a debit.
D)stockholders' equity will increase.

Question

Quizplus · Accepted Answer

When a company provides a service and receives payment, it records revenue, which increases stockholders' equity.

If a Company Provides a Service and Receives Payment at the Same