Joel Consulting Received $3,000 from a Customer for Services Provided

question 146

Multiple Choice

Joel Consulting received $3,000 from a customer for services provided.Joel's general journal entry to record this transaction will be:

• A)Debit Services Revenue,credit Accounts Receivable.
• B)Debit Cash,credit Accounts Payable.
• C)Debit Cash,credit Accounts Receivable.
• D)Debit Cash,credit Services Revenue.
• E)Debit Accounts Payable,credit Services Revenue.

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Definitions:

Capital Markets

Financial markets for buying and selling equity and debt instruments, contributing to the efficient allocation of resources.

Not-For-Profit Sectors

Segments of the economy that are organized and operated for purposes other than generating profit, focusing instead on social, cultural, or charitable missions.

Social Venture Capital

Investment funds allocated to startups and enterprises with the primary goal of generating social impact alongside financial returns.

Economic Development

The process by which the economic well-being and quality of life of a nation, region, or local community are improved through targeted initiatives.