On May 25, Carlin Company Received a $550 Check from Andy

question 128

Multiple Choice

On May 25, Carlin Company received a $550 check from Andy Jeter for services to be performed in the future. The bookkeeper for Carlin Company incorrectly debited Cash for $550 and credited Accounts Receivable for $550. The amounts have been posted to the ledger. To correct this entry, the bookkeeper should:

• A) debit Cash $550 and credit Unearned Service Revenue $550.
• B) debit Accounts Receivable $550 and credit Service Revenue $550.
• C) debit Accounts Receivable $550 and credit Cash $550.
• D) debit Accounts Receivable $550 and credit Unearned Service Revenue $550.

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Definitions:

Semantic Memory

A type of long-term memory that involves the capacity to recall words, concepts, and numbers which is essential for the understanding of language.

Procedural Memory

Refers to the long-term memory that is responsible for knowing how to perform tasks, such as walking or riding a bike, without consciously thinking about them.

Declarative Memory

A type of long-term memory that allows individuals to consciously recall facts and events.

Semantic Memory

A type of long-term memory that involves the capacity to remember meanings, concepts, and factual information.