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Goofy Golf, Sells High-Quality Golf Clubs  Accounts Receivable 2,000 Sales Revenue 2,000\begin{array}{cc}\text { Accounts Receivable } & 2,000 \\\text { Sales Revenue } & 2,000\end{array}

Question 3

Multiple Choice

Goofy Golf, sells high-quality golf clubs. On May 9, Goofy Golf sold five sets of golf clubs at a price of $500 each. Each set was sold for $100 cash and the rest on credit. The journal entry to record the recognition of revenue is


A)
 Accounts Receivable 2,000 Sales Revenue 2,000\begin{array}{cc}\text { Accounts Receivable } & 2,000 \\\text { Sales Revenue } & 2,000\end{array}
B)
 Cash 500 Sales Revenue 500\begin{array}{lll}\text { Cash } & 500 \\\text { Sales Revenue } & & 500\end{array}
C)
 Cash 500 Accounts Receivable 2,000 Sales Revenue 2,500\begin{array} { l c } \text { Cash } & 500 \\\text { Accounts Receivable } & 2,000 \\\text { Sales Revenue } & 2,500\end{array}
D)
 Sales Revenue 2,500 Cash 500 Accounts Receivable 2,000\begin{array}{lc}\text { Sales Revenue } & 2,500 \\\text { Cash } & 500\\\text { Accounts Receivable }&2,000\end{array}

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