A Company Billed a Client for Services Rendered in January

question 80

Multiple Choice

A company billed a client for services rendered in January.The payment was received partially in January,and the balance in February.When should the entry be made to record the service revenue?

• A)January.
• B)February.
• C)Split between January and February.
• D)At the end of the year with an adjusting entry.

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Definitions:

Face-to-Face Meeting

A direct interaction between two or more people in the same physical location, often for discussion or consultation.

Telephone

A communication device that allows two or more users to conduct a conversation when they are too far apart to be heard directly.

Referrals

Recommendations made by current customers to potential ones, often seen as a valuable source of new business for companies due to the high level of trust involved.

Orphaned Customers

Customers who lose their service provider or representative and are not immediately reassigned or tended to, often leading to a decrease in customer satisfaction.