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:

IR Band

A specific frequency range within an infrared spectroscopy spectrum that corresponds to the vibration of molecular bonds, used for chemical identification.

IR Absorption

The process where a molecule absorbs infrared radiation, raising its energy level in relation to its vibrational modes.

IR Absorptions

The process where molecules absorb specific frequencies of infrared light, causing vibrations that can be used to identify them.

Structure

The arrangement or organization of atoms within a molecule, defining the molecule's shape, properties, and reactivity.