Which of the following entries records the receipt of cash from cash customers for services provided?
A) Fees Earned, debit; Cash, credit
B) Fees Earned, debit; Accounts Receivable, credit
C) Cash, debit; Fees Earned, credit
D) Accounts Receivable, debit; Fees Earned, credit

Question

Quizplus · Accepted Answer

Cash is being received from cash customers, so Cash account should be debited. Fees Earned is the revenue earned from providing services, which should be credited. Therefore, the correct entry is: Cash, debit; Fees Earned, credit.

Which of the Following Entries Records the Receipt of Cash