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Northern University Operates a Bookstore Cash and Cash Equivalents2,650,000Operating Revenues - Auxiliary Enterprises2,650,000\begin{array}{lccc} \text {Cash and Cash Equivalents}&2,650,000\\ \text {Operating Revenues - Auxiliary Enterprises}&& 2,650,000\\\end{array}

Question 72

Multiple Choice

Northern University operates a bookstore. The bookstore had revenues in the amount of $2,650,000. What is the journal entry to record this event?
A.
Cash and Cash Equivalents2,650,000Operating Revenues - Auxiliary Enterprises2,650,000\begin{array}{lccc} \text {Cash and Cash Equivalents}&2,650,000\\ \text {Operating Revenues - Auxiliary Enterprises}&& 2,650,000\\\end{array}

B.
Cash 2,650,000Operating Revenues - Restricted 2,650,000\begin{array}{lccc} \text {Cash }&2,650,000\\ \text {Operating Revenues - Restricted }&& 2,650,000\\\end{array}

C.
Cash and Cash Equivalents2,650,000Due to General Fund2,650,000\begin{array}{lccc} \text {Cash and Cash Equivalents}&2,650,000\\ \text {Due to General Fund}&& 2,650,000\\\end{array}


D.
Cash2,650,000Due to Auxiliary Enterprise Fund2,650,000\begin{array}{lccc} \text {Cash}&2,650,000\\ \text {Due to Auxiliary Enterprise Fund}&& 2,650,000\\\end{array}


A) Choice A
B) Choice B
C) Choice C
D) Choice D

Correct Answer:

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