Use the information below to answer the following questions:
A consultant performs accounting services for a client on 30 June 2012 and bills the client $350, to be paid within 60 days. Payment is duly made on 29 August 2012. Accrual accounting is used by both parties.
-What is the journal entry made by the consultant on 30 June 2012?
A) DR Service revenue CR Accounts payable
B) DR Accounts receivable CR Cash
C) DR Accounts receivable CR Service revenue
D) DR Cash CR Service revenue
Correct Answer:
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