On December 1, 2012, Bears Inc. signed a contract with a retailer to supply maintenance for the next calendar year. How should this transaction be recorded on December 1, 2012?
A) Debit Cash, credit Service Revenue.
B) Debit Cash, credit Accounts Receivable.
C) Debit Accounts Receivable, credit Service Revenue.
D) No transaction should be recorded on December 1, 2012.
Correct Answer:
Verified
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