A Consultant Performs Accounting Services for a Client on 30

question 5

Multiple Choice

A consultant performs accounting services for a client on 30 June 2016 and bills the client $350,to be paid within 60 days.Payment is received on 15 August 2016.Accrual accounting is used by both parties.
- What is the journal entry made by the consultant on 15 August 2016?

• A) Dr Cash Cr Accounts receivable
• B) Dr Cash Cr Service revenue
• C) Dr Accounts receivable Cr Cash
• D) None of the answers provided

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Definitions:

Emotional Pain

A deeply unpleasant emotional response resulting from significant loss, social rejection, or emotional neglect.

Somatosensory Cortex

A region of the brain that processes sensory information from various parts of the body, including touch, pain, and temperature.

Vomeronasal Organ

An auxiliary olfactory sense organ that is found in many animals and is believed to be involved in detecting pheromones.

Pheromones

Chemical substances produced and released into the environment by animals, affecting the behavior or physiology of others of its species.