ABC CoPerformed $5,000 of Consulting Work

question 18

Multiple Choice

ABC Co.performed $5,000 of consulting work.Their customer paid them $1,500 right away and agreed to pay the balance in 30 days.Select the correct journal entry from the options below to record the transaction:

• A) a debit to Cash for $1,500,a debit to Accounts Receivable for $3,500 and a credit to Fees Income for $5,000.
• B) a debit to Cash for $1,500 and a credit to Fees Income for $1,500.
• C) a debit to Accounts Receivable for $3,500 and a credit to Fees Income for $3,500.
• D) a debit to Fees Income for $5,000,a credit to Cash for $1,500 and a credit to Accounts Receivable for $3,500.

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Definitions:

World Health Organization

A specialized agency of the United Nations responsible for international public health.

Drinking Water

Water that is suitable and pure for drinking purposes by humans.

Environmental Factors

Elements of the surrounding environment that can influence living organisms or ecological systems.

Oxygen

A chemical element with symbol O, essential for most forms of life on Earth, involved in cellular respiration and a component of the air.