Select the entry that correctly records the receipt by Speedy Window Cleaning of $900 in cash for window cleaning services provided. Ignore GST.

Question

Quizplus · Accepted Answer

When Speedy Window Cleaning receives $900 in cash for services provided, it increases its cash balance (an asset), which is recorded by debiting the bank account. Simultaneously, it recognizes the revenue earned from the services, which increases the income, recorded by crediting the income earned account.

Select the Entry That Correctly Records the Receipt by Speedy