A Company Accepted $6,000 on August 1 for Services to Be

question 135

Multiple Choice

A company accepted $6,000 on August 1 for services to be performed evenly over the next 12 months. The adjusting entry on December 31 would include a:

• A)debit to unearned revenue $2,500.
• B)debit to service revenue for $2,500.
• C)debit to unearned revenue for $3,500.
• D)credit to service revenue for $3,500.

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Definitions:

Viral Lysogenic Cycle

A mode of viral reproduction that involves the integration of the viral genome into the host cell's DNA, lying dormant before eventually entering the lytic cycle to produce new virions.

Reverse Transcriptase

An enzyme that transcribes RNA into DNA, used by retroviruses to integrate their genetic material into the host's DNA.

Retroviruses

A group of RNA viruses that insert a DNA copy of their genome into the host cell in order to replicate, including HIV.

RNA Viruses

Viruses that have RNA (ribonucleic acid) as their genetic material, capable of causing various diseases by infecting living cells.