A Business Performed $6,000 of Services

question 16

Multiple Choice

A business performed $6,000 of services.Their customer paid $1,000 of the amount owed right away but charged the remaining amount.To record this transaction,the business would:

• A) Debit Cash $1,000 and Debit Accounts Receivable $5,000;Credit Fee Income $6,000
• B) Debit Accounts Receivable $5,000 and;Credit Fee Income $5,000
• C) Debit Cash $1,000;Credit Fee Income $1,000
• D) Debit Cash $1,000;Credit Accounts Payable $5,000 and Credit Fee Income $6,000

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Definitions:

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A research design used to estimate the genetic and environmental influences on behavior by comparing the similarities between identical and fraternal twins.

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