In January,the Caribbean Dream Resort books and accepts a cash payment for $32,000 for vacation services to be provided during spring break in March.The $32,000 would be recorded during January as a:
A) debit to Cash and a credit to Unearned Revenue.
B) debit to Accounts Payable and a credit to Service Revenue.
C) debit to Accounts Receivable and a credit to Service Revenue.
D) debit to Prepaid Expenses and a credit to Service Revenue.
Correct Answer:
Verified
Q68: Which of the following is not true
Q69: This month,a company performed $517,000 of services
Q71: Trudy's Café paid employees $50,000 in September
Q72: Which of the following is an example
Q73: In January,the Huntington Beach Resort (HBR)accepts your
Q74: In January,a company pays for advertising space
Q89: Sparkling Pools provides $1,000 of pool maintenance
Q92: Which account is least likely to be
Q183: The unadjusted trial balance:
A)is a preliminary financial
Q215: An increase in operating expenses would have
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents