Which of the Following Is the Appropriate Journal Entry If

question 41

Multiple Choice

Which of the following is the appropriate journal entry if a company performs a service and is paid immediately?

• A)Debit to Cash,debit to Service Revenue.
• B)Debit to Cash,credit to Service Revenue.
• C)Debit to Accounts Receivable,credit to Cash.
• D)Debit to Service Revenue,credit to Accounts Receivable.
• E)Debit to Accounts Receivable,credit to Service Revenue.

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Definitions:

Condition Subsequent

A legal term that describes a condition in a contract that, if fulfilled, terminates the obligation or contract itself.

Debt Discharged

The condition in which a debt is legally eliminated, and the debtor is no longer financially obligated to pay it back.

Substituted Agreement

A legal principle where the parties involved agree to replace a previously made agreement or contract with a new one.

Fence Repairs

Maintenance actions taken to fix or restore fences to their original condition or functionality.