On July 7,Saints Inc.received $10,000 in cash from a customer for services to be provided on October 10.Which of the following describes how the transaction should be recorded on July 7?
A) Debit Cash $10,000,credit Service Revenue $10,000.
B) Debit Accounts Receivable $10,000,credit Service Revenue $10,000.
C) Debit Cash $10,000,credit Unearned Revenue $10,000.
D) Debit Unearned Revenue $10,000,credit Cash $10,000.
Correct Answer:
Verified
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