An enterprise fund collects $100,000 cash for customer deposits to insure timely payment for services.What journal entry did the enterprise fund prepare?
A) Debit Cash $100,000,credit Revenue $100,000
B) Debit Cash $100,000,credit Deferred Revenue $100,000
C) Debit Restricted Cash $100,000,credit Customer Deposits $100,000
D) Debit Restricted Cash $100,000,credit Revenue $100,000
Correct Answer:
Verified
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