On May 25, Mt. Wildhorse Company received a $646 check from Douglas Fir for services to be performed in the future. The bookkeeper for Mt. Wildhorse Company incorrectly debited Cash for $646 and credited Accounts Receivable for $646. The amounts have been posted to the ledger. To correct this entry, the bookkeeper should: O debit Accounts Receivable $646 and credit Unearned Service Revenue $646. O debit Accounts Receivable $646 and credit Cash $646. O debit Cash $646 and credit Unearned Service Revenue $646. O debit Accounts Receivable $646 and credit Service Revenue $646.

On May 25, Mt. Wildhorse Company received a $646 check from Douglas Fir for services to be performed in the future. The bookkeeper for Mt. Wildhorse Company incorrectly debited Cash for $646 and credited Accounts Receivable for $646. The amounts have been posted to the ledger. To correct this entry, the bookkeeper should: O debit Accounts Receivable $646 and credit Unearned Service Revenue $646. O debit Accounts Receivable $646 and credit Cash $646. O debit Cash $646 and credit Unearned Service Revenue $646. O debit Accounts Receivable $646 and credit Service Revenue $646.

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter5: Accounting Systems

Section: Chapter Questions

Problem 8E

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