Breezy Refunds Co.provides tax services on April 14th.They receive payment for their services on May 9.Which of the following is an appropriate journal entry for April 14th?
A) No journal entry is made until payment is received.
B) Debit Deferred Revenue and credit Tax Preparation Revenue.
C) Debit Cash and credit Tax Revenue.
D) Debit Accounts Receivable and credit Tax Preparation Revenue.
Correct Answer:
Verified
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