Which of the following is the entry to be recorded by alaw firm when it receives a payment from a new client thatwill be earned when services are provided in the future?a. Debit Accounts Receivable; credit Service Revenue.b. Debit Unearned Revenue; credit Service Revenue.c. Debit Cash; credit Unearned Revenue.d. Debit Unearned Revenue; credit Cash
Which of the following is the entry to be recorded by alaw firm when it receives a payment from a new client thatwill be earned when services are provided in the future?a. Debit Accounts Receivable; credit Service Revenue.b. Debit Unearned Revenue; credit Service Revenue.c. Debit Cash; credit Unearned Revenue.d. Debit Unearned Revenue; credit Cash
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 31MC: Which of the following pairs increase with credit entries? A. supplies and retained earnings B. rent...
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Which of the following is the entry to be recorded by a
law firm when it receives a payment from a new client that
will be earned when services are provided in the future?
a. Debit Accounts Receivable; credit Service Revenue.
b. Debit Unearned Revenue; credit Service Revenue.
c. Debit Cash; credit Unearned Revenue.
d. Debit Unearned Revenue; credit Cash
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