Chicago Consulting, an Engineering Consulting Firm, Provided $6,000 of Services

question 28

Multiple Choice

Chicago Consulting, an engineering consulting firm, provided $6,000 of services to a client; the client paid $2,000 when the bill was submitted and will pay the balance within a week.Chicago Consulting will record this transaction by:

• A) \[\begin{array} { | l |l | r | r | }
• \hline \text { Dr. } & \text { Cash } & 2,000 & \\
• \hline \text { Dr. } & \text { Fees receivable } & 4,000 & \\
• \hline \text { Cr. } & \text { Fees revenue } & & 6,000 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | l | r | r | }
• \hline \text { Dr. } & \text { Fees revenule } & 6,000 & \\
• \hline \text { Cr. } & \text { Fees receivable } & & 4,000 \\
• \hline \text { Cr. } & \text { Cash } & & 2,000 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | c | r | r | }
• \hline \text { Dr. } & \text { Cash } & 2,000 & \\
• \hline \text { Cr. } & \text { Fees revernue } & & 2,000 \\
• \hline
• \end{array}\]
• D) \(\begin{array}{|l|l|r|r|}
• \hline \text { Dr. } & \text { Cash } & 2,000 & \\
• \hline \text { Dr. } & \text { Fees revenue } & 4,000 & \\
• \hline \text { Cr. } & \text { Fees receivable } & & 6,000 \\
• \hline
• \end{array}\)