On August 31,2016,Peter Services Received $3,500 in Advance of Performing

question 76

Multiple Choice

On August 31,2016,Peter Services received $3,500 in advance of performing the service.Which journal entry is needed to record the receipt of cash?

• A)Debit Unearned Revenue $3,500,and credit Cash $3,500.
• B)Debit Cash $3,500,and credit Service Revenue $3,500.
• C)Debit Unearned Revenue $3,500,and credit Service Revenue $3,500.
• D)Debit Cash $3,500,and credit Unearned Revenue $3,500.

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Definitions:

Peer Pressure

The influence exerted by a peer group, encouraging individuals to change their attitudes, values, or behaviors to conform to group norms.

Clique

A small, exclusive group of individuals bound together by common interests or friendship.

Crowd

A large group of individuals gathered in a specific location, often without a common goal or direction.

Play Therapy

A psychotherapeutic approach primarily used to help children explore their lives and freely express repressed thoughts and emotions through play.