Tomi See CPA Has Billed Her Clients for Services Performed

question 90

Multiple Choice

Tomi See CPA has billed her clients for services performed. She subsequently receives payments from her clients. What entry will Tomi make upon receipt of the payments?

• A) Debit Unearned Service Revenue and credit Service Revenue
• B) Debit Cash and credit Accounts Receivable
• C) Debit Accounts Receivable and credit Service Revenue
• D) Debit Cash and credit Service Revenue

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Definitions:

Interval

A range of values or numbers that includes an upper and lower boundary.

Binomial

A probability distribution that describes the number of successes in a fixed number of independent trials, with only two possible outcomes for each trial.

Normal Curve

A symmetrical, bell-shaped curve that represents the distribution of many types of data where most occurrences take place around the mean.

Standard Deviation

An indicator of the extent of variability or spread within a set of numbers, showing the degree to which these numbers deviate from the average value.