In January,the Huntington Beach Resort (HBR)accepts your reservation and receives your $2,000 payment for a week of sun and fun in California during spring break in March.The $2,000 would be recorded by HBR during January as a debit to:

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The payment received from the customer is considered deferred revenue because the services will not be provided until March. Therefore, the $2,000 payment should be recorded as a debit to Cash and a credit to Deferred Revenue.

In January,the Huntington Beach Resort (HBR)accepts Your Reservation and Receives