Use the information below to answer the following questions:
On 15 September 2012, a surveyor received an advance of $7000 from a client for future services. The work was completed to the client’s satisfaction on 10 October 2012. The surveyor uses accrual accounting.
-What is the journal entry made by the surveyor on 10 October 2012?
A. DR Cash CR Unearned revenue
B. DR Accrued revenue Surveying revenue
C. DR Unearned revenue CR Surveying revenue
D. DR Surveying revenue Unearned revenue
Correct Answer:
Verified
Q34: On 1 July 2011,Green Ltd had office
Q35: T Ltd paid $240 000 in wages
Q36: On 27 September 2012,a builder received
Q37: The supplies account has a balance of
Q38: On 1 May 2012,A Ltd pays $9600
Q40: On 30 August 2012,a accountant received
Q41: Which of the following statements about the
Q42: A business pays weekly salaries of
Q43: Use this information to answer the following
Q44: The net profit reported on the profit
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents