A business renders services to a customer for $16,000 on account.Which account is credited?

Name: A business renders services to a customer for $16,000 on account.Which account is credited?
Brand: Quizplus
Rating: 4.7 (50 reviews)

Question

Quizplus · Accepted Answer

When a business renders services on account, it means the customer will pay at a later date. The revenue is recognized at the time the service is provided, not when the cash is received. Therefore, the Service Revenue account is credited to record the income earned from the service provided.

A Business Renders Services to a Customer for $16,000 on Account.Which