Clarissa Credit has billed her clients for services performed in October.In November, she receives payments from her clients.What entry will she make upon receipt of the payments?
A) Debit Unearned Revenue and credit Service Revenue.
B) Debit Cash and credit Accounts Receivable.
C) Debit Accounts Receivable and credit Service Revenue.
D) Debit Cash and credit Service Revenue.
Correct Answer:
Verified
Q116: An adjusted trial balance
A)is prepared after the
Q121: Closing entries
A)are prepared before the financial statements.
B)reduce
Q127: The closing entry process consists of closing
A)all
Q128: The purpose of the post-closing trial balance
Q130: The process that begins with analyzing transactions
Q131: At December 31, Witts Corp.reports Salaries Payable
Q131: Financial statements should be prepared
A)from an adjusted
Q133: The shareholders' equity section of the statement
Q134: Which statement below is incorrect?
A)An adjusted trial
Q138: On February 1, Top Shop Barbecues signed
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