The journal entry to record fees earned on account would be posted to which of the following accounts in the ledger? O a. Cash and Accounts Payable O b. Accounts Receivable and Fees Earned O c. Cash and Accounts Receivable Od. Accounts Payable and Fees Earned

The journal entry to record fees earned on account would be posted to which of the following accounts in the ledger? O a. Cash and Accounts Payable O b. Accounts Receivable and Fees Earned O c. Cash and Accounts Receivable Od. Accounts Payable and Fees Earned

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter4: Journalizing And Posting Transactions

Section: Chapter Questions

Problem 4MC: When fees are earned and the customer promises to pay later, which account is debited? (a) Cash (b)...

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

The journal entry to record fees earned on account would be posted to which of the following accounts in the ledger?
O a. Cash and Accounts Payable
O b. Accounts Receivable and Fees Earned
O c. Cash and Accounts Receivable
O d. Accounts Payable and Fees Earned

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